Thread regarding Allstate Corp. layoffs

IA is independent agent.

Except that many of the items that the person posted about is what we were just told about yesterday and today in meetings with our managers.

Most notifications of those being let go will be complete by the end of August.

"Y'all are all stupid if you believe the OP. None of this can be verified or substantiated. "

Thank you former Midwest FSL for the info! This is a great information and very helpful to plot my future. Im sure all the Pillow Talk helped also!

Y'all are all stupid if you believe the OP. None of this can be verified or substantiated.

Agents took a 1% Decrease in Renewal Commissions saving Allstate about 500M per year.

3700 Employees @ 100K per year average = 370M per year

Yet, Premiums continue to rise for all customers. ALL Stock will continue to respond well in the short-term. But long-term this company is in jeopardy. Responded way too late to the Geico's & Progressives. Tom Wilson will be out the door with his Sears Catalog/Playbook in his backpocket within 3-5 years.

The new model for agents is going to mean a change for the agent recruiters and they can expect a cut of 50% of the agent recruiters.

The agents in the new model will be expected to find their own staff so the recruiters that have been assisted agents find staff will no longer be needed and expected to find new roles within the company.

Hey all, former FSL. Just left. I have many friends who still are.

Everybody around saw the ALR side go to four territories late 2019. Obviously P&C following suit was no surprise.
I have some contacts at Home Office (used to work there) that I trust that say most of this is rumors, w/ absolute made up numbers.

I got no reason to lie. The job s—s (you all know that - FSLs - consultation tracks, lol) but cuts, bonus targets, # of marketing reps % cuts, is total bs. Company changing fast, but dont buy fake news.

• Former FSL in Midwestern area

What is happening to those employees that support the sales team in finding new agents for the new agency owners? Their are the recruiters that help the sales department find new agent owners, what is happening to them.

All -
Don't let this post stress you more than the lack of news already is. I can assure you the OP has built some scenarios (from what I gather) from company/public announcements to try and gain clout, then adding in rumor and speculation, particularly when it comes to timeline and claims over # or % of folks laid off. 100% sure of this.

Changes, severance and layoffs are happening, but don't believe everything you read on the internet.

Anything on represented bodily injury claims in florida? Are unit function different than auto and liability. Any changes with us?

USAA uses Body Shops to do drive ins and Total Loss in return for more work. Body shop will need to wow customer to stay on program. I A (independent adjuster can do the ones that will not fit into Virtual Adjuster or Body Shop estimators. Adjusters in India can do some also. More difficult to outsource property because you can’t bring a house to a body shop. Instead of posting property jobs that come up Allstate is allowing auto adjusters to apply for them. So Tom Wilson is not heartless but is following a different business model. You can always move with the Company to a different location. It may end up being nicer than where you live now.

Are casualty claims adjusters in Florida at risk?

Do you have reduction % for AORs supporting the field (DSPD)?

what will happen to Florida claims ?

FSL’s are woefully underpaid for salary...Compared to other companies. bonus is what keeps most of them around This is pathetic.

5 hours, 3K views, 140 shares.

Try to control this the corporate communications group and HR

40%... OMG, WOW!

Zones will consume regional budgets, but at limited level. Cuts in personnel aprx 40%.

It's incredible that I am finding more useful information on Layoffs.com than in our internal channels of communication. That tells you a story, right? Thanks for sharing this, this is very useful. God bless you.

Thank you the Original Poster - this is very much appreciated.

As you said:

• Stay safe & God bless. Look for your Option B before too late.

What does this mean?

"Company begins to look to make a major move towards moving into the IA space."

Tom Wilson’s 19 million annual salary could be cut slightly to save ALL of these jobs

A quick search led to this article..

The following list is comprised of the 10 WORST insurance companies in America:

1. Allstate.

The list explains that even the CEO of this company admits that their loyalty does not lay with their customers. CEO Thomas Wilson states that Allstate’s “obligation is to earn a return for our shareholders.”

This should tell you everything you need to know about Tom Wilson.

I don’t know your position, but thank you - you are more transparent and telling us more to prepare than our own CEO is doing.

curious if you could clarify the last line about moving into the IA space.....as in giving more IAs access to allstate or pushing EAs to become independent

Any idea about ABO/PPL cuts?

Have you heard about the aps roll?

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