Anyone would care to chime in with a prediction about potential Travelers Cos. layoffs? Any chatter, news or rumors?
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Your description is accurate and easy to verify with a search for 'Travelers layoffs' and employee reviews online. Any negative reviews are buried under 5 star reviews that sound as if they are written by HR. Company is known for layoffs every few years, majority of them older workers. The hiring strategy is to hire recent college graduates or people with no experience. They are able to pay 2/3 of what they can hire experienced employees for, emphasis is on numbers only, experience and education are not important. Company culture is partying, drinking and inappropriate behavior at all levels.
No " official" layoffs; however, the company is quietly finding bogus reasons to terminate employees with more than 30 years experience. Reasons include " position redundancy"-- which was only made redundant when they hired younger managers. The company has also targeted older workers, giving them pips for, again, reasons not related to productivity. They might just say the person isn't a good cultural fit, and they're put on a PIP until they become a cultural fit, or they are telling the employee that some unnamed people on their team prefer not to work with them. Odd, since these people had been with the company over a decade, and never had a problem with people complaining before. These are all just bogus reasons the company is using to get rid of older workers. I personally know of two cases where older workers were put on a PIP, and each of them successfully completed their. However, two weeks later, the company came up with bogus reasons to put both of these individuals on another PIP, for a different reason.
So, they are quietly getting rid of people, even though they are not calling it a layoff.