The title says it all. Nationwide is in a tailspin. Better get your suits to the dry cleaners and update your resumes.
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Susan Gueli got canned
Pres of E&S Nationwide leaving/retiring and now VP of Operations for E&S - selloff? reorg? something isn't right.
Rumor is remote employees and wfh not near 4 of the main sites, are going to be laid off.
Anymore layoffs on horizon?
more layoffs announced now in E&S but no details. this coincides with another post that mid august would be brutal.
IT just laid off yesterday 8/3/20. more to come across the enterprise from what is being said.
August 1st is a Saturday.
Coronavirus exposes that Nationwide is not Fortune 100 firm. It can't has enough funds for it's employees to keep until COVID is over.
This month, July, they are downsizing from top and one AVP from my business unit was laid off. In August they will start at employees level.
If your job can be done from home then you have a high risk of being let go. The days of having 3 or 4 doing the job of 1 or 2 is over, no more going to the office and working for 3 hours a day and b—s—ting the rest. They have installed software to track what each and every employee does while at home working, they are seeing that they don't need as many to do the jobs. look if you haven't already put forth an effort that is greater than your coworkers doing the same job from home then to be honest it's too late because they already know who the slack is. One more thing, giving each and every customer a 50 dollar check was the worst decision this company has ever made (not counting the super bowl dead kid commercial). Each and every check cost between 10 and 25 dollars just to generate. An across the board discount would have been a smarter response.
Any updates on this?
To be announced July 2nd.
Watch your email for a meeting invite.
Claims will be hit especially hard.
All departments.
Thats roughly 8,000-9,000 people. Not sure it will be that drastic all at once. Nationwide believes a slow bleed is better than ripping a band-aid off. They think if they do annual or bi-annual layoffs of 500 + that is better PR than laying off thousands all at once. To this company image is everything, if they can fool you into thinking your job is safe, they can fool the general public into thinking they are a well run company, with million dollar advertising deals with A retired qb and and a semi-retired country singer.
What departments?
July, senior management will find out how many of them will be cut, and the rest of the associates will find out the first of August. The narrative is that ever since COVID-19 and millions of people became unemployed, customers are looking for the lowest rates possible (since most aren't driving as much.) So they plan on automating most of their services so they can remain competitive. The aftermath of COVID is affecting all insurance companies and driving rate wars.
Please share more details.