Thread regarding ACE-Chubb (Chubb Corp.) layoffs

In your office what percentage of people do you think are leaving?

So word at "new" chubb is legacy chubb folks are waiting for bonus payouts in March and then the mass exodus will start. At least that's what they are hoping and will get them well on their way to cost savings. There are massive turf wars going on between chubb and ace management and the worker bees are totally distracted by all of the chaos and uncertainty surrounding them. Not sure how all of this is going to shake out but do know everything we heard about the ace culture is true and there is very little concern for employees and the egos at the top have the ability to really mess up what was a great company.

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Post ID: @OP+FH2yTKn

11 replies (most recent on top)

Welcome to the world of ACE. The company had perhaps the worst reputation among large carriers and culture towards its employees of any including AIG. For those at Chubb that still believe that they will be left alone to operate as a separate enclave within the ACE organization you are in for a very rude awakening. If you like teleworking, forget it. ACE is managed by political operators in Philly who are always looking to carve out their territory or protect it. This means they are constantly angling for favoritism with senior management who encourage that activity because it is how they maneuvered their way into leadership positions. The claims side of the house is run by an autocratic and technically incompetent former lawyer. Make no mistake that ACE will eliminate any redundant field offices and Chubb positions. Chubb was a company noted for decent bonus programs and work life balance but that will be entirely changed under ACE. The ACE philosophy on bonus compensation equates to Sr. leadership and those who are connected receiving the overwhelming distribution while others receive paltry amounts. Chubb Sr. claims staff and management in the field that have become accustomed to sharing in the success of Chubb will find the "New Chubb" will offer a few thousand dollars while expecting employees to express gratitude and loyalty. Those who do not will be marked for a slow twist or a quick riff. Chubb employees will experience a whole different kind of management from their new ACE leadership than they are used to. Reprisals, pettiness, and incompetence masked by ions of protocol will be the order of the day. Get ready to complete 3 different reports for different sets of eyes for the same purpose only to receive a response for more useless information that has no impact on the file/exposure. Good luck to all those at the old Chubb.

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Post ID: @bkti+FH2yTKn

Sorry, I stand by it. Chubb does not have a distinguished reputation for its IT - the fact that ACE hired some of them notwithstanding. Any really skilled IT professional with the skills currently in demand can always get work based on their skill setup Chubb IT has not kept pace with industry trends and therefore long-timers might be behind the 8 ball for job hunting. I don't have an agenda, I am just trying to be helpful. If I were in Chubb IT and thought I might be on the market, I would want to make sure I my skill set was current and take the steps to make it current if it weren't.

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Post ID: @8sea+FH2yTKn

I see Evan Greenberg found this forum... You should get back to not beating your wife.

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Post ID: @8ssp+FH2yTKn

I see a lot of emotions you are a real clown. Most people have had no problems getting jobs. And the jokers at ACE hired a lot of them

Get a life

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Post ID: @7izy+FH2yTKn

They couldn't do the layoffs at once because they had no idea what they bought. They have no clue that this is a bit larger than Firemens.

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Post ID: @4wqp+FH2yTKn

IT Chubbsters having a hard time getting jobs? Not sure your agenda but if you checks the ranks of ACE You will see quite a few people have done very well there.

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Post ID: @4xwq+FH2yTKn

http://www.amazon.com/Corporate-Executions-Shattering-Companies-Communities/dp/0814403077#productDescription_secondary_view_div_1454333218378

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Post ID: @2pyh+FH2yTKn

To compensate for the huge payouts, they'll just get rid of a couple thousand more people. You think they give a sh**? The'll just replace them with college kids and pay them nothing.

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Post ID: @2xbd+FH2yTKn

I have seen a lot of demotions already - people moved to completely different areas to less responsible jobs.... people being "managed out" - titles being downgraded, etc. , they're dead weight now and ACE is trying to make it uncomfortable for them to stay.

Unfortunately Chubb's rep especially in IT is so bad that it will be very hard for those ousted ones to get work somewhere else.... at least not on the same level.

The atmosphere there is simply horrible.

Seeing the Chubbsters reaction to all this I can easily understand why they have to get rid of people - a lot of them are not even trying to adapt.

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Post ID: @jen+FH2yTKn

You really think Chubb was a great company?

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Post ID: @fxr+FH2yTKn

The cost savings announced are about 15% of the combined operating expenses of the two companies. While they might get some of those savings from combining offices, I think a lot will come from staff. I also would guess that Ace probably underestimated how many people at Chubb are eligible for HUGE severance packages. Makes me thinks cuts are going to have to be larger to make up for all of the packages.

A lot of random layoffs... There seems to be no rhyme or reason to it. Everyday it's someone new... Couldn't they have just done this round of cuts at once?

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Post ID: @cej+FH2yTKn

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