It is looking like the next rounds of layoffs will be without any severance as Covid is calming down.
This has leaked out from leadership announcements....
Looking at the “Allstate India” video with employee trips, ping pong tables in the offices makes me wonder why Tom Wilson and Glenn Shapiro hate American workers so much..
Tom Wilson..the same a-hole that lectured American companies on taking care and appreciating the American worker....
One final s-rew you to American workers that made Allstate successful through hard work and loyalty.
With any luck that retention number will be in the 50’s within a few years.
6 replies (most recent on top)
You are aware that the board and high level positions can outvote and overstep the CEO if the numbers are there, yes?
Actually Glenn and many of the suits were against severance last year. Tom Wilson was the one that got severance approved and he overstepped most of the suits and Glenn that wanted to give nothing. With the spending much more on severance than planned severance for this year will be limited to 5 year and longer tenured employees impacted with sub 5 year lifted and shifted around the company. Allstate did not take into account that most states allow unemployment for lump sum severance and Allstate was on the hook for a lot of that unemployment as well. The savings from layoffs ended up being much less than anticipated as a result. This year's changes in severance will make up for it.
Why would think tom Wilson had to get approval from Glenn? Tom is the ceo. This is a troll post
I also heard that any severance would be limited to 5+ year employees for 2021 lay offs. Allstate paid out much more in severance and extended health benefits than planned in 2020 and are still paying tons of their portion of unemployment to those who also received severance as well.
This is not entirely accurate. The only thing that has been validated is severance for 2021 will be limited to those with 5 or more years of total tenure. Below that there is no severance. Expect instead of layoffs many 5 or less year tenured employees to be moved to other rolls and departments no more that two bands lower than their current role if possible.
This was originally what Tom's backup plan was in 2020 if Glenn and others didn't end up agreeing to regular full severance. Glenn and others will not go with full severance again since employment conditions have improved some and COVID pandemic has seemingly peaked and with available vaccines.
Two words.
Bull and $hit.