About 6 months ago Tom Wilson appeared on I believe CNBC and scolded American companies for not doing enough to take care of their workers contributing to a deteriorating perception of capitalism. He said that companies needed to do
More for workers.......
Meanwhile at his own company: end the defined benefit pension costing Allstate employees millions, decrease benefit contributions each year, end the DPA, cap pay grades to 75 percent of
Potential, etc, etc, etc....
Did anyone else see his hypocrisy when it aired like me. I’m sure that it could be found on you tube....
To me, trying to appear to be something that his leadership indicates that he is not is truly despicable and certainly not “transparent.”
10 replies (most recent on top)
I am not surprised. I worked at Allstate for 30 years and chose to retire rather than continue working 50-70 hours in the claims department where quality work was increasingly deemphasized for volume. It used to be a great company to work for until new management strategies under Shapiro turned the company into a GEICO/Progressive hybrid.
Disgraceful. For some time I believed TW's words and it made me happy to work for this company as hard as I did.
This company says you’re in good hands..., unless you work there. They treat you horribly and treat you like a minion. Now add the stress of skills testing to determine layoffs...., changed my insurance quick and so did all my friends and family members I share my story with.
He’s a hypocrite, that is for sure.
Do people actually get rated inconsistent? I’ve never known of anyone to get that rating... too much work for the manager
Maybe Tom will be rated “inconsistent” or even “unacceptable” on his PDS... 😉
Come on folks. Tom needs the extra $ millions for his sweater collection. Give him a break!
What a lying piece of sh-t!
Great post! There is some definite double talk going on! These comments along with taking away $350 mil in agent revenue, 3700 company layoffs, and a $3 billion stock buyback to line the pockets of the 1% of the Allstate Corp. Here are the comments made by Mr. Wilson:
- S. businesses must focus on creating higher-paying jobs,Tom Wilson, Allstate chair, president and chief executive officer, writes in today’s New York Times.
Wilson calls on America’s corporate leaders to prioritize job creation and make it a regular topic of discussion at corporate board meetings.
“Sure, the unemployment rate is near a record low, but that figure masks the fact that many families are not financially secure,” Wilson writes. “Being broke while working is not an American value. Poor financial health creates stress, reduces hope and undermines capitalism.”
His comments come just days after the Business Roundtable changed its organizational statement about the purpose of business to declare that delivering shareholder value is not enough. In his letter, Wilson notes that the U.S. Chamber of Commerce, for which he is chair of the executive committee, revised its purpose last year to focus on job creation.
Thomas Wilson
Wilson argues for a change in the agenda at corporate board meetings, which he says today are primarily focused on profits and stock prices, not the number of jobs they create or how many employees are re-skilled.
“Investors in these companies should ask management and boards of directors to focus on jobs. American businesses prosper by asking tough questions, creating specific goals and executing plans. This must now be applied to creating higher-paying jobs,” he says.
“Delivering higher income through better-paying jobs will improve the financial health of Americans and will restore prosperity to every family and community,” Wilson says. “For American businesses, that is our history. That is our role. It must be our future.”
A relative worked for Allstate for 30 years.
Between 2004 and now, Allstate done mass layoffs 4 or 5 times. Disgraceful. They seem to lay-off more than any company I know.