I've been reading about major round of layoffs coming in January, but it all seems to be in the realm of rumor. Does anybody know if there is any credence to these rumors?
It would be nice to let go of all this anxiety brought on by not knowing whether I'll have a job next week or month, but I guess that's simply not in my cards...
You'll have to interview for BA positions. They'll look first at BA's with necessary skillset, then to those with most of the skillset needed. No plans to reskill existing workers. They already confirmed they do not know if there will be any additional buyouts. Which to me is the writing on the wall. I agree with an earlier post, get all your EPRs and talent profile, you'll need them for future applications and lawsuits should it come to that. They are definitely trying to get rid of older, long term employees. The best to get rid of are those 50 and older, they worked for SF for decades and will have to leave with 1/2 their pensions! Gee, even more money for Investment Dept to play with in addition to lowering expense ratio. Closing Operation Centers, same deal. Basically, senior leadership have made really poor decisions over the last decade and those poor decisions are going to be paid for by us. I can guarantee the upper management who retired left with one heck of a package and we will leave with bread crumbs.
The shoes are dropping. Not only at SF but other "traditional" (dinosaur) P&C insurers. Just look at the other threads (Allstate, Liberty Mutual, Farmers etc).
One area that SF is behind is outsourcing (as in offshore) the easy claims that can be settled by foreign workers or even automation (or both). Licensing can be a challenge but can be handled by having the claims routed back to the US and be "reviewed and approved" by an licensed processor (staff or independent)....or even better, relocate a limited number of licensed US citizen workers overseas to "review, approve, settle" these claims.
Nothing is off the table when the dinosaur sees the Geico/Progressive comet approaching.
/And please know hubs may have more jobs but they are not "safe"./
You're right. I spoke to a claims rep in the Atlanta hub the other day. She confided in me that they are getting rid of part time employees.
Where it ends nobody knows...
Update. Claims is going through pooling in third and fourth quarter, compliance is under a structure study, ad services from what I understand is on the chopping block. And If u would read the intranet you will learn more about pc modernization that basically will reduce Underwritings need for actual underwriter and USAs in half. Folks it's real and it is here. Just pray and figure out if you want to ride the wave. And please know hubs may have more jobs but they are not "safe".
They’re closing the entire Tacoma office by thanksgiving.
What I find challenging is our important System infrastructure environments are supported by a mix of internal (State Farm Red badge) and external (Blue badge/ green lanyard) staffing. Where many externals are being let go even though proper succession planning hasn't taken place. Is a shame the first line managers are informed of the risks of potential outage and Disaster recovery issues. Not giving into expert analyst updates on why this shouldn't happen. Allowing qualified skilled experienced workforce to be picked up by our competitors when they should have been hired as Internal Red badges.
I am hearing from multiple people that Ad services may end up being completely outsourced.
If that's true (last post), then what leadership told us early on (that the work was moving, but the people left behind would be given local work) was completely BS.
Not that I would be surprised.
That could potentially mean a lot of cuts.
By the way, thanks to the last couple of posters who left more specifics.
If State Farm is really aiming for an IPO (as opposed to being acquired, which was what I originally speculated) they'll have to get their expenses WAAAAAAAAY down.... like, even further down, as they'll have to compete with Geico and the like.
Strange as this may sound, our goal historically has not been to make a profit on policies. It's been to make a profit on the net result of policies + investments. However, as a publically traded company, that strategy no longer works.
I have a friend in Blm who hears things that seem crazy but everything this friend has heard has been correct. I come here to get an idea of what other people are saying. I have a friend in a certain department in which the work is moving to one of the hubs, and they don’t have 6 months to find something else at SF...its happening really fast. My recommendation to anyone is just leave.
Maybe it will take the IPO coming out before some people believe that anything is actually wrong. We’ll see some big damage in 2018...we can come back here after that and compare notes.
Ad Services - Starting 1st quarter going through "transition" like systems just did and to plan for worst case scenario
The people being trolled never find it lol-worthy.
And yeah, I could be totally wrong.
Trolling for LOLs? Nice. Not the choice of words I’d use in this situation.
My money is on trolling for lols.
Not that I doubt more layoffs are coming, but this sort of ambiguous warning serves no purpose beyond stoking everyone's anxiety.
And if the next round has "already started," there really wouldn't be any time to play detective by talking to people "outside your circles."
I dont think you can chalk this up to it being just business. More like monkeys banging on typewriters hoping to duplicate Shakespere.
About the leadership dropping these notifications before christmas...its business. If people need to be cut then they need to be cut. It s---s but you have to work for yourself...if a position at a company doesn’t do anything for your growth, get out.
I won’t go into details about what department...I would say that if you work at SF and are curious, read, talk to people outside your circles. And always plan for the worst. Don’t count on 6 months...if you get that, great, but never count on it.
It's really surprising if leadership (if you can call them that) are dropping this announcement right before Christmas. I mean, talk about tactless. Is this legit? Or is somebody just on here screwing with us for LOLs?
What dept. ?
I’m saying don’t count on 6 months. There are people getting less than 3 months to find something else to do or leave.
@Angry: Have you heard something specific or are you speculating? Just curious.
The layoffs are starting now along with job demotions.
6 months is pretty typical. As an impacted remote worker, my only option was involuntary severance. They gave me 6 months to find another gig. I'm using my time to sharpen my technical skills because the companies in the city where I work expect more hands-on technical ability than what State Farm expected of me.
SF policy looks to be a 3 month period for you to find another job...whether that gets extended to 6 months or whatever is determined by the department and how quick they want/need to move.
Keep in mind that the impacted p&m employees were given nearly 3 months to decide whether to take severence or try to find another position then had another 3 months before their positions were officially terminated. So, with history as an indicator, if/when analyst level people are impacted, they should have 6 months to plan for whatever is next.
I've asked this question of my leadership. I am being told that front line leaders simply do not know.
I do find all the new IT roles highly interesting. I wonder if they are going to automatically map existing roles to the new roles, or if it's a situation where some people will have to interview into them. Honestly I have no idea.