Thread regarding Allstate Corp. layoffs

The constant patting themselves on the back is nauseating.

I am not the OP but you cannot deny Sarbanes Oxley which was passed because of Enron. Requires more disclosure at the top level. There’s that word transparency again. I don’t know how you can DEFEND practices like this at all, they just don’t pass the sniff test. These acts of layoffs and buybacks, in conjunction with salaries and bonuses at the top are exactly the point.

Looks like most of the regional field claim vp’s have been taken care of with director jobs

You do realize that with the reduction of 14 regions to 4 zones, people who make a significant amount of money are losing their jobs, right? Like Field Senior VP's, Regional VP's and Regional Sales Leaders? With bonuses, the lowest on that totem pole probably brings in $300k easy.....

And stop with the Enron comparisons. They are myopic at best. No one will, or should, go to jail for this.

Allstate is a very bloated company, who has been wallowing in complacency for decades now. The fast moving and efficient Progressive and Geico passed them. Geico and Progressive...two of the worst insurance companies (in terms of how they lure in their customers) out there. Allstate could be great....this is simply the price of change.

I'm convinced that there are hardly any people who post here that have any sort of business understanding.

What they are doing right now (lay-offs in conjunction with buybacks) is one of the most egregious examples of corporate greed this country has seen since the likes of Enron and WorldCom.

The executives know it, too. Which is why they don't discuss it.

Read the corporate quarterly call from May. It's all there.

If enough employees went to the press, or did a coordinated PTO day, Wilson and company may have no choice but to rescind the layoffs.

Remember: The billions upon billions of dollars used to artifiically pump up the stock price could have been used on advertising, employee enhancement, customer premium reduction etc. THAT is the key.

RCPS? Oh y Thats where u spend multiple wasted hours in meetings to send a proposal, and someone from home office gets back to you...well...whenever is convenient For them (unlike treadmill deadlines set for workers who do actual work ) and replies w 1 sentence sentence not doable.

How bout Good Hands u get rid of all middle manager project stupidity that has to justify existence to changing things and making needlessly complicated? Oh and also trim few mill of each officers bonus we’ll be good to go, no cuts of people who do the work that earns your obscene bonuses.

Let’s have another meeting saying nothing but “we are being transparent” over and over with no actual answers.
Let’s form a committee and have another RCPS team/meeting as well.

Let’s start an RCPS on transparency. Yeah.