Thread regarding MetLife Inc. layoffs

Next round is March 2020

Mark your calendar. Heard from two different sources.

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Post ID: @OP+18NtSaLY

24 replies (most recent on top)

For P&C employees, if Farmers keeps the Guidewire projects, they should have their jobs for another 20 years.

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Post ID: @Oslc+18NtSaLY

The "retirement" emails are starting to trickle in with a last day of March 31st.

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Post ID: @xdej+18NtSaLY

MetLife cash on hand for the quarter ending December 31, 2020 was $24.405B, a 25.46% increase year-over-year.
MetLife cash on hand for 2019 was $16.598B, a 4.91% increase from 2018.
MetLife cash on hand for 2018 was $15.821B, a 24.56% increase from 2017.
MetLife cash on hand for 2017 was $12.701B, a 0.4% increase from 2016.

Not including any cash from divesture of P&C. You'd have to think they were looking for more acquisitions.

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Post ID: @wdfb+18NtSaLY

Dunno.

CFO seemed pretty somber delivering the earnings video.

But, they do seem to have a boatload of cash.

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Post ID: @tmcv+18NtSaLY

Anyone have new info on this? The earnings report was very good but they are in the business of making money, so I’d think they are still looking to trim expenses.

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Post ID: @talb+18NtSaLY

@jxjh+18NtSaLY: I fear you are right.

Sadly, the North Carolina reboot of IT didn't work. Too much of the existing management stayed in place.

The problems isn't technical. The problem is the barriers that the organization puts in it's own way.

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Post ID: @jayi+18NtSaLY

From what I've seen, outsourcing IT would be on balance a good move. The only time I've seen the company really flail is when they've tried to do IT in house. Conversely, the engagements with external parties have really shown up the in house capabilities, running circles around us. Your mileage might vary, but I have worked in MetLife IT for many years and seen this multiple times.

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Post ID: @jxjh+18NtSaLY

If I had to guess, I'd guess that if there is a March layoff that it will be mainly IT.
Seems like it always is. I'd guess that it will be relatively small to meet budget cuts. (Yes, I know. When it's your job being cut, it isn't small. )

But, I think even bigger, cuts may be down the line in a year or two if IT outsources to one of the companies that they are talking to now. I'd guess that Pappas/Khalaf feel that IT is not a core competency for an insurance company and that outsourcing will save money.

I think this is wrong.

If it happens, it will be "transformative" and result in large layoffs or early "retirements".

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Post ID: @gpvz+18NtSaLY

Heading should be "Next round March 2021", right?

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Post ID: @8vwd+18NtSaLY

https://www.lifeannuityspecialist.com/c/3014863/378733/life_insurers_mulling_more_cuts_study_shows?referrer_module=emailMorningNews&module_order=12&code=YzNONlpYZGplblZyUUcxbGRHeHBabVV1WTI5dExDQXhNelExTVRZeU15d2dOakkxTXprd09USTE

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Post ID: @6zzd+18NtSaLY

What is truly anonymous anymore?

But, it's probably more anonymous than our "My Voice" survey (which are only "confidential") though I believe the P&C head called them anonymous at one point.

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Post ID: @6fhw+18NtSaLY

Heard the same. No data, just rumor, but they were right the last time.

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Post ID: @6sqm+18NtSaLY

@4xoy+18NtSaLY Really not up on your critical thinking or logic skills are you? Check out the home page of this website and tell me if you think we shouldn't be talking about rumors?

https://www.thelayoff.com/

News, personal experiences, rumors and speculations about layoffs at your company

TheLayoff.com is live since January 31, 2009!

TheLayoff.com is a simple discussion board for all of us who would like to learn more about the rumors or possibility of job cuts in our company.

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Post ID: @4oea+18NtSaLY

Rumors are not helpful. I should not have said disgruntled. However, information that is being put out there is contrary to what you are saying,

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Post ID: @4xoy+18NtSaLY

I think this false. All the information I am getting is completely different. Disgruntled much?

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Post ID: @4qpp+18NtSaLY

Not giving input on source. That is how a source stops being a source.

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Post ID: @1bmu+18NtSaLY

I wonder who the source is? What department?

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Post ID: @1cmz+18NtSaLY

That's too bad. I learned about my layoff six months in advance back in '19. Hopefully, they will do the same so that people can plan accordingly.

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Post ID: @1kdq+18NtSaLY

What's with the down votes on the original post.
Are you down-voting because it's bad news? (That's not how you should vote)
Or, are you HR trying to do your patriotic duty?

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Post ID: @1shf+18NtSaLY

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