Thread regarding Northwestern Mutual layoffs

NY office not going away?

Yeah, the people who just promoted a bunch of NYers to SVP and EVP, in addition to funding hundreds of millions for a new office in Manhattan next year are showing all signs they’re done in NY.

I’m not a fan of the NY office, but you have to have your head in the sand to think they’re going away. You’d also have to be insane to leave before getting your package, which I hear is a sweetheart deal.

Found this on another thread, originally posted by @YA9mdSx-2ldv . Felt it was worth a repost.

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Post ID: @YCSZPjU

9 replies (most recent on top)

Don’t expect the board or Schlifske to do anything that makes sense yet. NM is still letting people go and I’ve heard their doing anything possible to avoid paying a severance package. The LearnVest Arizona office where the CFPs worked is being closed, LearnVest.com is gone, and Schlifske has already proven that he doesn’t know how to transition people into other roles (the layoffs over the past 2 years makes this apparent). Since the LearnVest acquisition, revenue increase the last 3 years has been well below the trends in prior years, and in 2017 revenue dropped compared to 2016. Premiums have flat lined the past 3 years leading me to believe that Schlifske and the board no longer know how to run this company. Four years after the LearnVest acquisition, none of it has helped NM’s bottom line.

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Post ID: @YCSZPjU-1hhzn

Now that Schlifske's affirmative action experiment has failed, as expected, he and the board will start hiring based on merit and qualifications and not worry about filling gender and racial quotas.

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Post ID: @YCSZPjU-Cier

Apparently people in Milwaukee can't read or just can't see through their own envy because the news about LearnVest being sunset clearly states the employees would be transitioned to other NORTHWESTERN MUTUAL PRIORITIES. The NY office is here to stay because MKE employees can't even pass basic reading comprehension.

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Post ID: @YCSZPjU-Aagu

If you are going to bother posting, at least have the decency to label it the "women's club". They are completely different which does cause one to wonder. One a New Yorker everyone knew wouldn't stay. One who has been there awhile. At least one other who hasn't been there long at all. Clearly there is something suspect here. When will the board oust Mr. Schlifske. Perhaps when he stops getting meaningless awards. Take him off the pedestal. Something is clearly a mess at NM

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Post ID: @YCSZPjU-ukmx

Looks like the girls club is no more at NM. 4 major departures today including Emilia Sherifova and Beth Rodenhuis. Who's next???

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Post ID: @YCSZPjU-tkqk

The majority of the New York office hasn’t had anything to do with the LearnVest site for years now.

Also, the CTO, CMO, several VPs, and hundreds of people on their teams are all based in NY and work on high priority initiatives.

Apparently it was confirmed last week they’re spending a bunch of money to buy a new building in Brooklyn next year.

Doesn’t sound like the office is closing to me. Wishful thinking maybe, but OP is right: you have to have your head in the sand to think it’s going away. Or you just haven’t worked here in a long time.

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Post ID: @YCSZPjU-7aip

NML released this internally on Friday in an effort to bury the news on Firday before the holiday when many are on vacation. $1billion spent for nothing! NY office will likely be gone before year-end

LearnVest.com site to sunset

Strengthening the Northwestern Mutual brand

Page Content

​Last year when we discontinued LearnVest planning services, we decided to keep the LearnVest.com website and its newsletter to continue educating consumers on meeting their financial goals.

As we strengthen the Northwestern Mutual brand and prioritize our resources, we've decided to sunset the LearnVest website, its newsletter and its social media channels.

We're informing subscribers that the site will be sunset May 17, and they can visit "Life & Money" on NorthwesternMutual.com for helpful articles.

Current employees who worked on the site will transition to other Northwestern Mutual priorities.

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Post ID: @YCSZPjU-5amr

Get used to it NY is here to stay and will only get more important and more spotlight. Which is a good thing if NM expects to be relevant in the next 10,20,30+ years.

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Post ID: @YCSZPjU-1hpd

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