Outside of IT, we still have no idea what's going on?
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Yes he hit on it! Said it's a done deal with Progressive passing us and nothing we can do about it. They are just cheaper and what they don't spend on agent's they spend on acquiring new business/marketing. Said we have to move to digital acquisition as a huge part of our business but skated around the impact to the agent...but we all know that is coming. He said we are 5 years too late to really do anything to stop Progressive. Most of us knew that 15 years ago..... so I think he was only being partially truthful but at least it was some admission of complete failure. MT was too busy with his ego and fleecing about $100 million in compensation from SF. The $35 billion he lost in 9 years is criminal on top of destroying claims and the company brand. Said we have to get serious about starting to cut expenses...which is laughable as it has been cut some much SF barely functions anymore. End of the day, agents have to go, we have to have better data, and they are going to finish off all the old-timers through unbearable stress and torture. AI will eliminate jobs, and to your point the net worth will go up and so will their SMIP!
@g9 I assume by your response you are in leadership. Did might JF mention anything about our financial goal/performance? I've been here 40 years and for that entire time we have complained and screamed about how we are losing money. Back in the early 90's we were paying $1.03 on the dollar, now it's closer to $1.20...... and magically we've remained in business all these years. Actually ballooning our NetWorth!!! WTF! Layoffs, raise rates, don't pay for anything...then complain about expenses all while making billions.
About what I suspected, sounded like a scam especially since the way it was not communicated. Ohh.....Yes and that was right after he bragged about our $150 Billion dollar net worth! Take out about $1.5 billion of 1% of our net worth and do the right thing and buy out anyone who wants to leave! It will save you money in the long run! Write the damn check! You will recoup that in two years!
Just to give you an update, the new Severance packages are just a typical propaganda scam like everything else State Farm does. All leadership had our quarterly Executive briefing yesterday and JF told everyone that only 4% of employees would be eligible for it with only 1% receiving it. (hence the applications) Basic math....around 600 people of the 60,0000 employees. The vast majority of that will be in ET/IT. It is what everyone expected, you will continue to be reassigned, tortured, harassed and abused to force you out. They do not want to pay severance and want to make you quit. These people have not changed and are still the same useless sh-t bags as ever. Just a ploy to try to keep people from leaving and buys them time for you to train your replacement. Don't think for one second they found religion. Again just another SF scam to not pay what we owe!
Employees assigned to a hub will probably get job offers and not an exit offer.
Hearing uw not getting offers and getting job offers. No idea is true or false.
@db are you saying that Underwriting is not going to be affected or the exit plan is not being offered? I'm in UW and know that a plan was submitted but of course we didn't get any details. I know our workforce will decrease as we move forward with modernization.
Nothing. Did hear today that it's NOT being offered in underwriting.
@bj unbelievable. My rates keep going up and you want me to keep paying for your pension. Most of America forget have that luxury. Well you just motivated me to call Progressive for a quote.
Don't touch the pension. I still have 20 years before I max it out at 35 years and can retire. Then it will pay me for an additional 30 years. If you want to cut cost eliminate agents. I am working hard for my pension and it's the only reason I'm staying. You freeze it and I will be forced to look for another job. I've earned it more than agents earning their commissions. Agents, do not call the CEO and demand our pension be frozen or I'll call and demand agents lose their commission.
@OP nope - nothing in Claims where I am at. Have not heard of anything of any other departments.