Layoffs are coming. Over 100 estimators, 15 managers and 35 plus reinspectors.
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Yes, well-publicized cuts already underway in big (Systems) and small departments. Funny, though, Tipsord said Underwriting profit expected to grow in 2017; specifically he said even as policy numbers shrink, premiums grow. I suppose that's because less sh1tty biz is being written and premiums are in line with competitors' recently hiked rates?? That said, me thinks these "transformations" are not to redress last year's horrific underwriting losses (yet net worth managed to grow by several $B) but to make the company a more desirable candidate for de-mutualization. Top dogs are gonna get filthy rich in the next couple of years.
Confident there will be cuts. Look at results. Lapse/can and production at historic lows. Not as many customers equals don’t need as many people. They’ll talk expense reduction which may play a role, but company is floundering toward mediocrity and a new place in the market.
True. Look for the announcement January 2018.
Lies