Thread regarding Northwestern Mutual layoffs

Karl Gouverneur puts corporate spin on the current strategy at NM

I see Karl Gouverneur is at it again. When executives start talking about journeys, won’t happen overnight and it’s continuing, that can only mean one thing. They will continue to throw client/policyholder money at everything and wait to see what sticks. https://www.cio.com/article/3268753/digital-transformation/160-year-old-insurance-giant-transforms-into-a-digital-business.html#sf87530131

by | Post ID: @SU1mnbV
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Loser also= all the old folks they got rid of. NM cleaned house at the expense of talented people.

by | Post ID: @SU1mnbV-ipmv

Some teams in Franklin were also moved downtown to help fill up the new tower.

by | Post ID: @SU1mnbV-edpt

5,900 then and 5,900 employees now. Did anyone read the fine print? NM got tax incremental financing from the city of Milwaukee (for their new building) if they could hire 1,900 employees by 2019. But, the stipulation did not state that the people hired must be in addition to those already employed. So, NM thoughtfully let 1,900 go and hired 1,900 to meet the contract. Win win for them and the city. Loser = the long term employee with pension and lots of vacation. Business is business.

Journal buried this fact...

by | Post ID: @SU1mnbV-dqzf

I wonder how many layoffs or job losses will happen because of this?

by | Post ID: @SU1mnbV-clzu

The corporate spin machine is working overtime now. That loud s---ing sound is the sound of $250 million in policyholder money being s---ed into the LearnVest black hole. NM is shutting down the LearnVest website and many in the media are saying NM didn’t get much given what they paid. So much for the expense initiative and saving money. NM executives could never get their story straight on the reason to acquire LearnVest. First it was for the client base, then it was to acquire the employees, then it was to acquire the technology. So, what the heck were executives thinking?

by | Post ID: @SU1mnbV-bczk

I was one of the original that was let go early in February of 2016. Good news, I have found something much better than NM, but NM sure made it a horrible experience. I worked there for many years and basically just tossed out. Yes, I am over 50 and male. Hmmmmmm. I had to sign a piece of paper that basically stated that I would not sue them for my severance package. I hear now that the 2 people (that were in their 30's) that replaced me are gone because they didn't know what they were doing. They are sending everything to India and it is a mess because offshore cannot do everything. They are good at whatever you can tell them on paper, but if it requires any kind of thought knowledge, the work suffers.

I also hear they are bringing some of the knowledgeable people that they did let go back as contractors, but at a sub pay. Screwing them both times (1st when they let them go, 2nd when they brought them back as contractors).

All I can say is KARMA. KARMA is a b--ch and it will come back to haunt them. The person that was in charge of my division left the company before he was let go by the new mgmt that is coming from Learnvest. These LV folks have no clue how to run a department, yet a Company, but they have been given free reign.

I also hope they just toss Karl out like a big sack of potatoes!

by | Post ID: @SU1mnbV-6jrc

Sure there are still 5900 NM employees. The company got rid of the lifers, people over 50/60, and anyone else that didn't fit the bill. They hired people as NM employees to keep the number up. Guess what these people are in their 20's. This company knows what they are doing. Out with the old or should we say old timers?

by | Post ID: @SU1mnbV-5hxd

The other issue has been the strategy to offshore just about everything, including change control across the enterprise These offshore contractors have zero knowledge of the IT systems and frankly the offshore firm NM picked is just awful.

by | Post ID: @SU1mnbV-5hmk

Clearly executives at NM are clueless when it comes to implementing agile. In some areas change control and testing have been completely lost in this whole agile mess. There are systems issues weekly and much of it is because people think agile means no testing and no change control.

by | Post ID: @SU1mnbV-2ive

Just received the 2017 funding notice for the pension plan (plan number = 003 and EIN = 390509570) and according to that letter there are 5,900 active employees. According to the government website below, that’s the same number of employees at the end of 2016. Not a surprise that the CEOs original message about needing to reduce employee head count was juts a smoke screen. The part about needing to save money, is also a smoke screen because I don’t see any money being saved. The continued decline in policyholder dividends is certainly evidence of bad leadership at NM.

www.efast.dol.gov

by | Post ID: @SU1mnbV-2hhx

The agile roll out was just awful. Company executives created scrum teams, trained people in agile, and then lowered the boom with the layoffs. Talk about disruption. Those layoffs set back this whole agile roll out by months. Agile coaches would say in meetings how great NM was for investing in the employees. How ridiculous that turned out.

by | Post ID: @SU1mnbV-1qhq

Quality and velocity. Nothing new here Karl. Remember faster, better, cheaper?

by | Post ID: @SU1mnbV-lyr

Every company already has functional groups that operate as startups. Their goal is to support the business goals with quality and velocity. Nothing new here Karl.

by | Post ID: @SU1mnbV-pma

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