Another day, another surprise, there are folks that think that job reductions may happen in corporate in NYC.
10 replies (most recent on top)
@cheaper to terminate comment.... true but and some of the long-time employees came to MetLife for a career, never realizing that their education and talents would mean NOTHING. Unless you are fortunate enough to work for decent management, know someone who can give you a leg up, or are a serious you know what kisser, you can’t get anywhere. The newer, younger, cheaper hires will most likely learn they are being used to further management careers, and will hopefully get out of dodge quickly. Sad state of affairs.
@albatross comment -- Met has sent some closed blocks to TPA's. There are press releases announcing such. Met probably thinks it is cheaper to terminate long time employees in favor of new, younger ones, and especially ones in lower cost places including non-USA.
Besides middle management being an albatross, so many employees working on closed blocks, who due to longevity, are raking in the dough while maintaining low levels of production and performance working on administrative tasks. Would it not be cheaper to ship these tasks off to TPA’s and transfer these employees to active blocks where they build and develop their careers? Hiring new employees while laying off perfectly capable employees makes no sense!
Ahhh yes, middle-management, the downfall of MetLife. This company pays a lot of money to middle management who basically dump all their work on their direct reports and below. I can think of several who will just ride the backs of their teams, and retire in wealth and glory!
@41nlo - You are probably right about Met's plan to replace highly paid employees that have traditional pensions. On the other hand, they may not be able to easily do this because those employees form the bulk of middle management and Met probably couldn't afford to lose too many of them at once. Not to put too fine a point on this, but many of those trad-pen folks are resistant to change and are just waiting around for retirement or a nice termination package. Until then, they'll spend their days conference calling with one another and generating power point slides for each other.
Several layoffs today (6/20/18) in MetLife Auto and Home's claims department. Didn't companies like MetLife receive major tax cuts from Congress to reinvest and hire people? Apparently Steve Kandarian didn't the memo, but he received $14,550,000 in total compensation last year. MetLife's plan is to layoff all high paying (what they consider high paying) positions with traditional pensions and hire new employees with no or little experience and no traditional pension in low paying venues like St. Lous, MO and Freeport, IL. There is an old saying, "you get what you pay for".
I work for MetLife for 25 years 10 of them were in the district office which was bat talking and Associates I love my job but I got bought out because they moved and there was no room for me and their new office which is now closed
I was part of the banking division that was sold in pieces back in 2011-2012, except my little piece was just dissolved. I was out of a job for 8 months after a 6 month contract job ended.
Shame at 200 Park, where there are millenials who stroll in whenever, socialize all day, leave early and then get promoted. Adding zero value, while hard workers are being let go. Very painful to see this. Management needs to seriously do a better job of weeding out the lazy and unproductive or at the very least, hold them accountable.
several layoffs for Auto & Home in NY & Henderson, NV