When SF settled the RICO case for 250 Million it spoke volumes about the company reputation. To say it was settled as a business decision which IMO an admission of liability. This damaged the company and it continues to spiral downward by cutting benefits, laying workers off, and continuing to slash workers who believe and work hard to fulfill the mission and vision of the company. The company advertising deals with everything but the product itself. The customer is wise to its diversion tactics. On a local level, the company's reputation has tanked even within law enforcement. What was once the leader in all respects of ethics and business has literally been flushed down the toilet for money.
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Not really, it has $160 billion in net worth. It won't be overnight but it will be pretty quick. The next market downturn will wipe out another $30-$40 billion and then the insurance echo system is changing. People can't afford new houses and new cars and we are becoming a Uber/Lyft society and country full of people who own nothing/renters. Premiums will take a drastic downturn over the next 5-7 years and State Farm will maybe be about 30%-40% of its current size in the next decade. They will ditch agent's (finally) and AI will eliminate thousands of jobs. If I was young I would never work for SF, on top of it being a total sh-t hole, it just doesn't have a long term future! F..... this place! Pure trash!
@pe Many others bigger have failed.
Statefarm isn't going anywhere, too big to fail.
Nothing will happen to the executives that created the sh-tshow. They'll just lay people off if they have trouble meeting their bonuses. The micro managers will turn into na-is in order for them to meet their goals, fu-k the employee actually trying to resolve a situation for the customers.
The higher ups don't give a sh-t. Find a new job with a company that gives a fu-k about it's employees.