Any more information on potential lay offs? Dates and /or departments??
13 replies (most recent on top)
Don't worry @kzzn. There will be a confidential employee survey soon.
But don't say too much bad on it because "confidential" is not the same as "anonymous". Make no mistake, if it is just "confidential" and not "anonymous", they KNOW who you are. Think about it, if you don't fill it out right away, you'll keep getting emails asking you to do so. They know exactly who has and who hasn't filled out the survey, and they aggregate it by working groups on up the chain.
I wish I had the balls to write letters to the President, stockholders and News Media to show the stickholders the way business is being run. It’s depressing and miserable. The new hires aren’t being trained correctly and no one seems to care, just pass the buck. And then when shot hits the fan, they blame the employees rather than themselves for allowing the sh--ty training and miserable work environment. They don’t give a sh-- about anything except the money they make .. it’s all Aboit greed!
Morale hasn’t been this low in the 20 plus years I have been employed with MetLife. How discouraging every year to hear that more will be expected, but oh yeah, don’t expect much of a bonus. When they say that headcount reductions will be mostly by attrition, it’s believable because the higher ups are going out of their way to create a miserable working environment.
Earlier, it was said about 1400 jobs will be affected. From what I’ve seen it doesn’t even seem close to 1400 this year. I heard December was the big one for the claims department. At this point people are so miserable the CEO may be correct, and it will be by attrition. I’ve been here a long time and have never seen so many people unhapoy and crying daily about their jobs, while upper management turns a blind eye.
Re: Shame on You's post -- Every time I see a message on Yammer or whatever congradulating someone on there 20, 25, 30, or 35 yrs of "service", I think, why dont you just draw a big ol target on there back?
I was let go after nearly 35 years. In good standing. Told it was due to "corporal restructuring" and "my position" was eliminated. Yet supervisors with less than a years of experience kept their jobs. Guess it boils down to making too much, the pension, etc etc etc...several other long term, exceptional employees let go as well. A shame.
Likely the expense reduction commitment to shareholders can be met by simply cutting back on hiring consultants and cutting back on travel. Management knows this. They don't make promises that they can't keep.
As far as layoffs, it's not going to be big, except maybe in IT. Just dribs and drabs. No one want to break the cash cow.
How odd, CEO implies that headcount is to be reduced mostly by attrition, however there are closed blocks of business who as soon as someone quits, transfers, or retires, a replacement is hired. How about offering those jobs to people in MetLife who are in danger of being let go. Attrition, yeah, that’s not gonna happen!
Agree with Met dribbling out terminations, as they’ve been doing that for years. No compassion for people who need their jobs and came to MetLife hoping for a career. Newer head of HR seems to be trying to win some silent millennial popularity contest, with ZERO regard for long-standing, hard-working managers and associates who are not part of the “chosen one’s” that get all the promotions and glory. There are days when being severed and walking away with a package would be a blessing.
@Beaner - non-USA isn't quite right. Warsaw can handle the work now done in Dublin.
Could be sooner than September/October, but I've seen October layoffs at other places. I think management favors Q4 because it only affects the last quarter of the year and once the year is over they don't have to talk about it much. Plus, it can make the next year over year comparison look good. October is better than November or December because they don't want to be seen as terminating people around the winter holidays. On the other hand, Met's strategy seems to be to dribble the terminations out, flying beneath the WARN radar and avoiding press.
Both CEO and CFO sent out messages same day.
CEO said employees would be treated respectfully and fairly and would like to get reductions by normal attrition. That's nice. But folks long tenor folks with good pensions, good pay, and good benefits aren't going to leave voluntarily.
CFO said grows will occur in Warsaw, Poland, Kuala Lampur, Maylasia and Noida, India.
Cost initiative boils down to sending work to non-USA locations as much as possible.
Lot's of high cost labor in NYC, but they seem untouchable. Will be interesting to see what happens.
Rumors are next round is in September/October.
No details, but CEO talked transformation in a video.