Thread regarding MetLife Inc. layoffs

MetLife enters $19.2 bln reinsurance deal

Looks like I was right with my earlier post. What impacts to jobs will this be?

https://www.reuters.com/business/finance/insurer-metlife-enters-192-bln-reinsurance-deal-boosts-share-buyback-2023-05-25/

by
| 1682 views | | 19 replies (last June 5, 2023)
Post ID: @OP+1mNm09az

19 replies (most recent on top)

Noah was a conspiracy theorist too, until it started raining.

by
|
Post ID: @baok+1mNm09az

@9iku+1mNm09az - As "Deep Throat" said, "follow the money".

For Met, the question is, are we experiencing excess mortality? If so, why?

by
|
Post ID: @9yxw+1mNm09az

@7aqk+1mNm09az, that’s exactly the point @5zwu+1mNm09az is making.

People believe whatever they read, and then consciously or subconsciously attempt to associate gossip with better or lower financial results (whichever fits the narrative at that moment in time), which they argue results in reductions of jobs in this company. Jobs are cut when the economics of keeping a job no longer makes sense (whether that be individual performance-related or economic in nature for an entire team).

https://www.thedailybeast.com/dr-drew-airs-wild-anti-vax-conspiracy-about-jamie-foxxs-medical-emergency

by
|
Post ID: @9iku+1mNm09az

Management is saying amongst itself, "The market just doesn't get what we are trying to do with New Horizons and Raise the bar."

The market says, "You're buying back stock with money that isn't yours. What percent of your net worth is in MetLife stock right now and are you mortgaging the place in the Hampton's to buy more?"

by
|
Post ID: @6wob+1mNm09az

Stock is sinking. Reinsurance deal not being well received. Large layoffs on the horizon.

by
|
Post ID: @6dao+1mNm09az

These comments are great!

Measurable mortality increases due to mRNA vaccines? Senators getting satellite phones? Nuclear threats in NYC? And ‘Prepare’?!

It’s great to see some commenters playing along with a couple of these conspiracy theorists.

Keep it going (for our collective entertainment)!!

by
|
Post ID: @5zwu+1mNm09az

Censorship! Don’t talk about Covid vaccines!

by
|
Post ID: @5cfe+1mNm09az

I hope the ELT answers exactly how this reinsurance deal benefits the long term interests of the shareholders at the Let's Talk Live meeting.

But the question will never make it past the handlers.

What are the basic terms of the deal? Does anybody know?

by
|
Post ID: @5egi+1mNm09az

They all know something is coming and are being told to prepare.
Same reason why senators were given satellite phones last week
And NYC did a weird a$$ Nuclear warning message not long ago.
The company will be laying off big time for sure imo
Prepare

by
|
Post ID: @3apu+1mNm09az

New Horizons is BS. It’s about business and making money and preserving what they have. Reinsuring the entire book of US retail life and annuity reserves is not a good sign at all. Find new jobs asap. This is a very big concerning move. Think about it. $19B is their entire book of that business. They are trying to pull the wool over your eyes. Again nothing about this is good news. Bolt.

by
|
Post ID: @2clw+1mNm09az

The one offs will only left a short while longer... By the third and fourth quarter large scale numbers must be reached.
Expect cuts across the board.

by
|
Post ID: @2kax+1mNm09az

A $19B life reinsurance deal means - the know mortality is on the rise and have to limit the financial risk.

by
|
Post ID: @2ajw+1mNm09az

Reinsuring “US retail life insurance” what’s that tell you? The mortality rates are on the rise because of the Covid vaccine. Not because of an increase in flu. Dah. And remember when Michele had a doctor on LTL talking about how the mRNA vaccine worked to coerce your into it being safe and effective. Yup. Never a good idea to take medical advice arranged by a CEO of a life insurance company.

by
|
Post ID: @2mtq+1mNm09az

You’re right about the reinsurance announcement being connected to the stock buy back. Must be a signal to the street. Look we are buying back stock but we aren’t touching existing cash, going to use this cash.

CEOs gotta meet HIS $ objective to the shareholders otherwise he won’t get HIS package.

Layoffs have been happening drip by drip. Get out while you can. Severance is based on years of service and your salary. It’s not much $ so if you have another offer take it

by
|
Post ID: @1clc+1mNm09az

The internal announcement was perplexing.

Blah, blah, New Horizons, blah, blah.

But it doesn't say WHY we re-insured the business or how that helps MetLife.

It did say we are still doing the customer services. Are we now doing work for no gain (for the company)?

We re-insure business all the time. Why did this deal warrant an announcement?

There is something strange about this.

by
|
Post ID: @1kux+1mNm09az

Reinsurance has been a line of business for about three to years. The only interesting piece is it $ will allow buybacks.

by
|
Post ID: @1ofi+1mNm09az

May be a prelude to more class action litigation by impacted customers, depending on the structure of the reinsurance.

by
|
Post ID: @awo+1mNm09az

Thanks for the earlier heads up post. That's why I come here.

It's not clear to me how it will affect Met employees. Since it is reinsurance, it might just reduce swings in our profitability, but we might have to do the same accounting and service work.

It might be a prelude to selling the book outright. That would save Met employee expense dollars.

Interested in what other think.

by
|
Post ID: @pbv+1mNm09az

Post a reply

: