I heard from someone that Allstate has every right to change the severance plan. While this is just a rumour and something that was only casually mentioned as a possibility, I am now worried that it could happen to the detriment of us employees. Have any of you heard anything about a scenario like this? Could that happen? My severance pay is the only thing that comforts me in this chaos that is happening.
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3npq+19udyHvs why go through the trouble of posting anything, if it's updated and you read it what's the answer? Daf
The severance plan has been updated for January 2021. Go to the alight site where your benefits, 401k are and it’s in the Summary Plan Descriptions section.
No way they will pay out that kind of severance money again. Get out while you can. Doing my best to get out
The least Allstate can do is pay severance when they decided to lay off hundreds of tenured CA employees in 2020. Glad it cost them a pretty penny...and don't be surprised if a couple of arbitrations began particularly with time cards.....Allstate did not always follow "role clarity" motto so underpaid employees sometimes played team leads.
Glenn Shapiro hate severance.
Glenn Shapiro is afraid severance may knock down his seven figure salary a tad.
Glenn Shapiro will fight against severance.
Don't be a Glenn Shapiro
Not paying severance is certainly bad for employee morale, and for attracting quality employees in the future.
Also, it will drive customers away. Who wants to be insured by a company that can pay severance? I'd be thinking, well, if they can't pay severance to their employees, then maybe things are so bad that if I have a claim, they either won't pay or won't pay without a big fight.
Certainly. They have full chosing whether or not to offer any kind of severance or benefits. Unfortunately I was a part of a large layoff in 2013 that affected about half of what the 2020 layoffs reportedly did and none of us got severance. Luckily I was contacted shortly after and moved to another position temporarily that ended up becoming permanent. Was then let go in the 2020 mess.
Some home office folks did say and was also verified outside these boards that Glenn Shapiro was totally against any type of severance for the 2020 layoffs but Tom Wilson demanded it in fear of backlash in the media during a pandemic. I would assume with said pandemic still going on that severance would be paid out in some form however I would assume it would depend on how much Shapiro and the powers that be fight it this time around and how much would have to be paid out this go around. They also had to foot portions of unemployment in some states that allowed unemployment to be paid out regardless of severance. It seems Allstate paid out a lot more than they planned during the 2020 layoffs and still are.
Allstate could discontinue the severance at any time at their sole discretion.
The last severance paid for the last layoffs in 2020 amounted to a charge against 2021 results of close to 300 million dollars.
It would be very tempting to discontinue it..particularly to this leadership team..