Thread regarding MetLife Inc. layoffs

What happens when Farmers takes over?

What happens to the employees that follow the acquisition? How does Farmers treat them and do they keep them? Also, benefits and retirement from Farmers, any idea of what they offer?

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Post ID: @OP+18mcHuHF

25 replies (most recent on top)

Now we know, they are closing many offices and making us work remotely permanently. Welcome, now get your stuff and get out. Oh and here is a dead plant, a baby blanket and a cup. Thanks.

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Post ID: @2dqyw+18mcHuHF

Any news on the Farmer's deal and in particular what will happen to the P&C workers?

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Post ID: @1rubl+18mcHuHF

I wonder if the Texas freeze will incur substantial losses for MetLife.
I wonder if that will affect the Farmer's deal.

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Post ID: @1agkl+18mcHuHF

Read the poster by Met, especially the response to "Frequently Asked Questions"... The response to will we be paid AVIP? Says only if the closing happens after the AVIP is due....thus if it closes before then, guess not? Also, all the information presumes that our last day as Met employees is 3/31. This strikes me as an odd date to pick when we were told to our face that the close would happen in "Q2". If that is true, why presume that our last day is 3/31? Don't believe any of it. Good luck to everyone.

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Post ID: @nbwq+18mcHuHF

The standard MetLife AVIP covering 2020 will keep any P&C employee there who wants to collect it until March...

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Post ID: @llhs+18mcHuHF

/@hike+18mcHuHF-I have not heard in my dept that March 31st. Is last day. Are you in claims?

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Post ID: @kgmk+18mcHuHF

@hike+18mcHuHF you mentioned that Met said to presume that March 31 is your last day and no word from Farmers yet.

This is a great way to lose employees before the purchase goes through. In which case Farmers could end up buying just a bunch of policies with no one to service them. I dunno, seems like a bad idea. For some transactions like this employees will actually be incented to stay by the promise and payment of a retention bonus. That way, all the key people don't jump ship before the new owner takes over.

Good luck.

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Post ID: @hren+18mcHuHF

Being told by Met that our last day is presumed to be March 31 and not any official word from Farmers on offers of employment or honoring time of service, is a very unsettling way to begin a transfer to a "comparable" role with a new company. The P&C "microsite" is nothing more than "don't let the door hit you on the way out." Thanks for nothing.

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Post ID: @hike+18mcHuHF

All the capital being raised and future investments will not be in this country. Overseas, probably China. That’s why Khalaf is named Chairman U.S. Chamber China Center. That’s where the agenda for the country is going, why wouldn’t Met follow ? Redistribution of wealth.

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Post ID: @eetv+18mcHuHF

Nice info @debo+18mcHuHF. My wife and colleagues are paying close attention to how this is handled. It's not clear why P&C was sold. Wife said CEO said it would take too much investment to keep up. So, Met couldn't compete? Yet they said P&C was making money?

On the other side, Farmers has to make money of this. Sure, if they can get more business then they can spread costs over substantially the same work force. But, who are they going to take this business from? I don't see it.

That being the case, Farmers is going to have to get efficiencies by reducing its combined workforce. Layoffs. I don't see any other way.

Finally, I don't see where Met is headed. What's the big picture? Who's next to be bought? Sold? Even with the "purpose" statement. I can't predict the next move even generally. Best I can tell is that they want to be an employee benefit provider. Sounds like they will back away from being a real insurance company, that is one insuring substantial risks.

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Post ID: @dfdz+18mcHuHF

The only thing working in the favor of the P&C people is Farmers will need you for at least a few years. There are a LOT of long timers in P&C. Many are close to retirement or semi-retirement.

If Farmers doesn't ante up enough it could push many long-timers to bolt (some out of spite) and then there's less people around to help Farmers get its arms around a book with twists and turns they may not be overly familiar with.

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Post ID: @dsjs+18mcHuHF

AVIP will happen for P&C. Raises probably not likely pending the closing. We probably weren't going to get a raise (or much of one) anyway given the current economic conditions.

MLG employees supporting P&C get a PTO payout (no carryover) which doesn't make sense. MPC employees from P&C have PTO carried over. This DOES make sense. I'm sure there is an inane reason for this difference. MetLife goes out of its way to complicate even the simplest of things.

Tenure carrying over would be 'equitable' (a word our mgt has been using lately). That would enable MLG at least to accrue more vacation time. Farmers COULD spot people 3-5 PTO days to make up for this. Don't count on it, though.

No P&C employee can expect long term employment at Farmers. It's probably a 3-5 year gig (at best). So an 'equitable' severance would be necessary (and fair) in this day and age.

Until we get the skinny on what Farmers offers, this is all speculation. Got to wait until sometime in 1Q 2021 to learn what they will offer.

To MetLife employees not affected by this sale, pay close attention to how abruptly MetLife is cutting us off. They can't get rid of us fast enough. This could be you in the not-too-distant future. Think about that the next time mgt and/or HR tries to herd you into a town hall (virtually or otherwise) to give you a 'rah rah' speech about the company.

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Post ID: @debo+18mcHuHF

I doubt anyone in the know is going to post what is going to happen with folks who transition to Farmers? This is a layoff site, not an HR site for blocks that are sold?

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Post ID: @dyxw+18mcHuHF

@bftu+18mcHuHF , what is this about not paying a bonus? Is this true?

Surely P&C will get a 2020 bonus. You've earned it.

2021 would seem iffy, if the deal closes early in the year (has a close target date been set?)

Please post details on bonus, close date and whether tenure carries for anything where tenure matters. (eg. if a 401K plan vests immediately, then tenure doesn't matter anymore for it, but if tenure determines vacation day alotment, then it obviously matters!)

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Post ID: @cbtt+18mcHuHF

will they honor our PTO days that we earned with our tenure at Metlife
it looks like we are going to Farmers as new employees?
than we should be entitled to a severance because it is not comparable position

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Post ID: @bwvs+18mcHuHF

So for MLG employees who will be fully paid out unused PTO at closing mid Q 2 won’t be able to actually take time off June- December, when most of us use 95% of our PTO during that time? Or will be offered unlimited unpaid days?

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Post ID: @baxy+18mcHuHF

can they really not pay us out bonus? the micro web came out today. what about our tenure with MetLife does that transfer? and the pension?

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Post ID: @bftu+18mcHuHF

Most employees do not want to come back to the office and want to stay virtual. We have been doing it successfully now for just about a year and it will be longer than a year when it's all said and done. On top of that.. not everyone will take a vaccine for a myriad of reasons... And if they make it mandatory... There will be lawsuits.

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Post ID: @aufw+18mcHuHF

So happy to be gone from MetLife. I know it may seem impossible to believe until you live it, but there is LIFE AFTER MET!

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Post ID: @4pya+18mcHuHF

I think a lot of your post is spot on but not so sure about your assessment of virtual employees and locations. The way it was conveyed to us last Friday everything comes with the sale and that includes Warwick, Dayton, Oriskany, Freeport, etc. though it is understood MetLife doesn't own those buildings. It appears (operative word) that the leasing arrangements would transfer to Farmers.

I do not believe Farmers will be hunting for separate office space for P&C or looking to relocate thousands to their own offices which may not have the room. This could also prove costly (relo reimbursements, etc.). Farmers would more likely keep P&C in their existing offices. I also don't think, at least for the first couple of years, they will be eyeballing who's virtual and deciding if those people can be cut off. It is entirely possible they have their own virtual arrangements with existing employees (COVID aside).

An unknown is if Farmers will simply let P&C run in a semi-autonomous fashion while it decides what to do long-term. Or if they will go for the throat and start working toward moving MetLife data over to their own systems/applications ASAP. To be determined.

I totally agree with you about MetLife management... dull blades... very sneaky... you know when they're lying... their lips are moving.

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Post ID: @4pbw+18mcHuHF

My opinion is we are safe.... for now. Although I do believe Leadership and Management should be worried, as my opinion is they will be the first to go.

Metlife Leadership is useless and inconsistent. I believe their choices for leadership and mgt have led to/contributed to the demise. If Farmers was smart, they wouldn’t take advice from leadership and mgt team of a failing business. They are more worried about looking good than actually training. They only acknowledge their “favorites” and god forbid you speak honestly. All I ever hear is “it will get better” and it’s only gotten worse. I pray that Farmers is more conducive to a happy work environment where they care about their employees vs treating as they are just a number. As far as benefits etc... I’ve “heard” they are comparable to Metlife.

Virtuals may need to be concerned, as if there is no office in close proximity they may weed out eventually. For now, due to Covid, it’s not a concern, but once offices open back up, Farmers will need to decide if there is any benefit for virtuals or if they want to open an office in the area, then the concern is where will the office be? Will it be a reasonable commute for virtuals.

There is a lot to consider and because we are told they are “taking” 100% of the employees does not mean they will be keeping 100% of the employees. Metlife Mgt has been shady and lied to us on many different occasions, so to trust them now would be foolish.

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Post ID: @3xus+18mcHuHF

@ihe+18mcHuHF Are you HR? Management?

What is this, "We are about to get really big and you guys are still taking care of our files."

Who writes sentences like that except a wanna-be "leader"?

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Post ID: @1twp+18mcHuHF

@ihe+18mcHuHF Are you HR? Management?

What is this, "We are about to get really big and you guys are still taking care of our files."

Who writes sentences like that except a wanna-be "leader"?

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Post ID: @1egc+18mcHuHF

Business as usual! If you don’t think that you will have a job then start looking. My opinion, you will, we are a branch now and there’s a contract in place. Look up warn notice regulations in your state, it will tell you how much time you have. Also, I think you’ll be fine. This transaction was nothing like the M&A I’ve gone through, I’ve been through a handle full. Usually, it’s quick but painful. We are about to get really big and you guys are still taking care of our files. Don’t worry.

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Post ID: @ihe+18mcHuHF

Employees?
Customers?
What?
Who cares?

  • Sincerely,

MetLife Management

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Post ID: @hcx+18mcHuHF

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