Thread regarding Mutual of America Life layoffs

Update

Read out on Town Hall:

  1. $150M loss in 2024
  2. $5M loss so far through Q1 2025
  3. Boca property to be sold in August. Everyone is Boca will be moving to a new cheap office park
  4. Product launches to generate revenue are slow to rollout. Won't see much until 2026-2027 if at all
  5. Chris Conway took a page out of Severin's playbook. Ultimate spin master. You could see people shaking their heads as info presented was fluff and BS. He claims a retention rate of 98%. No mention of massive net outlfows and 2,000 plans lost in 2 yrs. Total BS.
  6. There is a new BOT on the website ! OMG ! The bot will solve all of your problems ! AI to the rescue
  7. Stephen did a great job today. Great job Stephen.
by
| 1379 views | | 7 replies (last ) | Reply
Post ID: @OP+1js3cmkg7

7 replies (most recent on top)

Has TruSpire written any business yet?

by
| | Reply
Post ID: @12e+1js3cmkg7

Fitch has downgraded the Company to BBB+. Outlook is negative.

The Company’s website continues to show the old A- rating. Getting it right is hard, I guess.

by
| | Reply
Post ID: @me+1js3cmkg7

LOL. "Sus" is when someone who has been at the Company "for almost over two decades" uses the slang "sus."

by
| | Reply
Post ID: @hv+1js3cmkg7

Retirees are not invited to the town hall meetings because you are retired! It’s for current active employees that do the jobs. I’m not sure why a retiree would think they should be invited to any town hall. No company does that to my knowledge. While I understand that you may still have money with the company, that doesn’t give you the right to hear insider information.

by
| | Reply
Post ID: @ec+1js3cmkg7

The town hall yesterday painted a nice picture — like everything’s going to be fine despite all the losses and setbacks. Rich did a great job in the town hall, but honestly, he still doesn’t really connect with the rest of us at Mutual. It’s pretty clear he’s built an inner circle since he took over, and a lot of the old people from the previous regime are long gone.

The presentations gave off this false sense of confidence, like things are magically heading in the right direction and we just need more time. I gotta say, I agree with the earlier post — Conway’s part felt sus. The product roadmap at the end looked okay, but nothing in it really showed how these “new products” actually make us different from competitors. We are merely just copying what other people are doing.

Subhang’s section was kind of a joke too. As someone who’s been in IT here for almost over two decades, I can tell you — that chatbot could’ve been put together in two days, tops. The way he talked about it made it seem like some massive breakthrough. In reality, it barely works and honestly feels like more smoke and mirrors.

Not trying to be overly negative, but I’ve been here a long time. I’ve seen a lot. And I just don’t see any real change happening. If I’m being real — I’d tell the younger folks here to look elsewhere if you actually want to grow or make a difference. This place needs a real change from the outsides and not just another iterations of Greed.

by
| | Reply
Post ID: @d6+1js3cmkg7

Yes, please let all retirees in on this.

by
| | Reply
Post ID: @cc+1js3cmkg7

Thanks for the update. As a retiree, how did you get invited to the meeting? I, and I'm sure a lot of other retirees would like to attend next time. What "cheap office park" did they pick for Boca office?

by
| | Reply
Post ID: @ca+1js3cmkg7

Post a reply

: