According to management it's business, hiring, and travel as usual and very few layoffs will take place in the company. Doesn't make sense what their saying in light of Mr. Kandarian's announcement?
Some layoffs will happen and have happened. But by putting in a hiring freeze as many departments have done you let natural attrition reduce or in some cases eliminate the need to perform layoffs.
That combined with the spin off of brighthouse, operational saves, and some projects being cancelled most of the 11% expense reduction has already been identified.
Exactly what "management" are you referring to?
Kandarian is the top "management"; if the CEO says something about MetLife's direction (e.g. initiative to reduce expenses by 11% by 2019, including layoffs) then it has to be true. Some people have already been laid off. Expect many more layoffs to come. This latest expense reduction initiative is just getting started.