Thread regarding Lincoln National Corp. layoffs

February headcount cuts confirmed in Q4 earnings call

In the Q4 2023 earnings call on February 8, Chris (the CFO) said the following:

"For example, last quarter, I discussed the expense headwinds we are facing and the opportunity to continue rightsizing our expense base. Earlier this week, we took action to remove organizational complexity. With this head count reduction, we're working to optimize our organizational structure and continue to set Lincoln on a more efficient and agile path. While these actions will be additive to the run rate value of the company, there is a cost associated with this reduction that will impact us in the first half of the year."

This wouldn't be announced unless it was sizeable.

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| 1019 views | | 6 replies (last May 8)
Post ID: @OP+1r5IsfV9

6 replies (most recent on top)

It seems these layoffs have happened in phases, yes? Instead of all in one cut... it seems that one round happened in February & another in April? Any idea when the next may happen?

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Post ID: @1laqr+1r5IsfV9

Only warning signs I can think of from talking to people is if there is people from departments helping on a “project” that they can’t talk about.

Pretty sure they are looking at every department to see where they can use cheaper labor. Heck whole call center has been outsourcing now.

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Post ID: @1fveu+1r5IsfV9

Are the warning signs there for those departments/roles on the chopping block?

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Post ID: @19nrd+1r5IsfV9

Nothing been formally announced or shared besides in internal departments. But more departments outsourced with EXL

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Post ID: @18zjy+1r5IsfV9

Source? Didn’t hear anything.

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Post ID: @12yxa+1r5IsfV9

Layoffs happening today

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Post ID: @10hqw+1r5IsfV9

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