MetLife Europe Sell Off

Anyone heard anything new about the sell off to Generali? Apparently they wanted the whole of Europe but the offer was too low.

I imagine they'll come back in with another offer, I heard a rumour that if this was incoming it would be March/April time.

Would also be interested in anyone's thoughts about what this situation would mean if this went ahead. Seems quite likely that it would be business as usual for most, as Generali aren't going to not need a workforce, senior management reshuffling aside of course

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Well, the deal, if any, has probably been put on hold.
Though it would be a good time for executives to quietly talk without anyone knowing.

Generali might not "buy" the people currently working on the European business.

Instead, they might set up a Transitional Service Agreement ("TSA") and contract the work back to MetLife renting the current workers until Generali was able to do the work themselves.

In that case, dealing with the surplus people would be MetLife's problem. A Game of Thrones might ensue as people jockeyed for positions that wouldn't be eliminated.

Thoughts on situation if it went ahead? Three words: Economy of Scale.

They would keep people until they were able to mine their brains and move their processes. Then, I'd expect them to reduce the workforce. This could occur partly by natural attrition. It might take time to move the regulation from Ireland to presumably Italy.

In the short term, their could be retention bonuses paid to keep some folks around.

Yes it should go ahead Generali appointed Lazard working hard on it

Thread regarding MetLife Inc. layoffs

MetLife Europe Sell Off

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