Any news on USDigital
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@1dq8 GTO will soon be Gee Tee .... not working here any more.
@1d02 damn guess you were right since we got restack notice today.
You'll notice some trimming of org charts around Cary after this week.
@1btq So what happened?
Expect more layoffs next week in US.
I cannot recommend joining MetLife based on my 10-year experience. While the company has potential, the middle management layer fosters a toxic atmosphere characterized by blame-shifting and a lack of support for employees. The leadership has been static for over 20 years, leading to a disconnect from current industry needs. Furthermore, HR and Employee Relations (ER) failed to provide the necessary oversight to correct these management behaviors.
Get rid of the useless AVPs!
GCSO got hit hard this week. >50 was the number I heard.
This company can't be trusted. They tell fired employees to call it retiring to their colleagues and stakeholders. This is getting old and is paper thin. HE should ask Co Pilot to come up with a different reason already.
Heard there were some layoffs this week…disability area I believe. Anyone hear about others? Or ones coming in July?
Another person had her goodbye message on as well in group life…maybe retired though…
Met does stealth layoffs.
If you want to see the real thing, pop on over to the Intel or Microsoft layoff boards.
Met is up 11% over one year ago.
It's too late for cuts to help Q2.
Nonetheless, I think they will cut.
P.S GOSC is now called something else and they're opening two more sites.
We cut from our list when share price dips.
@5jg is right. Look at org charts and whack a lot of the bottom.
And also some LOB are actually still hiring externally, when in-house candidates are supposed to be given preference, due to the expense reduction plan underway. Keep that in mind if you are RIF'd in the near future.
Changes are afoot. Could be an interesting summer.
Roughly how many cut in Cary?
at least 20. I think they're staggering them to prevent WARN Act trigger.
@37e+1jtmj4jpj "There's nothing they do that a director can't take on."
True!
I've thought about this for a while, longer than it should have taken, and worked out why.
The why is the MetLife 2030 goals, specifically for Officers. I think the company might count AVP's as "Officers" in their reporting.
So the widely commented on ineffectiveness of the AVP and VP ranks in general might be due to the company's 2030 goals.
I think that if these goals discriminate against anyone, because the applicant doesn't check the right boxes, they are against the law.
Anyway, I think this explanation fits. Why else would the company waste so much money creating higher-level positions than the work warrants?
But not eliminating the many duplicative AVP roles. Seriously, way too many AVPs (and dare I say, VPs) and there's nothing that they do that a Director can't take on. So much wasteful spending.
They are closing offices.
Roughly how many cut in Cary?
people cut in Cary last week
Beware of AVPs suddenly "busy" with bogus assignments...being heavily guarded from the upcoming "staff right sizing".
@tq+1jtmj4jpj about 15k
They may be renaming things, but they have not backed away from their published 2030 goals.
How many employees does Met have in the U.S.?
Instant cost savings could be realized simply by eliminating half of the AVP roles at MetLife. Seriously, some of these roles are not even needed, while others could be handled at the Director level. It's the SVPs who are gatekeeping wasteful spending around here.
@h7+1jtmj4jpj nope, pace got herself a new snazzy title replacing DEI with Employee Engagement. "Privilege" if I do say so myself.
Did they cut the DEI team?
Definitely. Cutting U.S. labor is a MetLife classic. Legal has a lot of sudden retirement announcements. They also set up a cut team where a military guy did not get promoted but can prove how tough he is by firing the team.
I know more layoffs are coming to GTO. Probably won't be until end of Q2 that they're announced. Start brushing off those resumes.
The current budget review is a total scam.
Tech companies are doing fairly large terminations.
Insurance is different, but I suspect that in Q3 and Q4, maybe even the tail of Q2 we will have some terminations. How else will they get that extra 1% reduction of expenses?
Bear in mind that if that number was 12% of something, and they want to reduce it by 1% to 11%, that's a saving of 1/12 or about 8% reduction.
Sure we could grow the top line, and keep the expenses the same. But I'm not sure if that's realistic. Easier is to give everyone sh---y raises and toss a few people overboard.
No layoffs this week, as our leaders are too busy boozing it up in the Bahamas. Maybe next week when they are back to work.
Let me just make it clear, I didn't hear anything, I'm just asking.