If the market makes a turn soon, do you think there will be MetLife layoffs? Any chatter, news or rumors?
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How many of your colleagues were laid off? I was also laid off from Tampa effective end of month.
@3zbts+1jUxAlHt - Sorry to hear. It's going on.
Found out today a few my of colleagues have been laid off effective end of the month :(
It’s inevitable. Enforced RTO is a warning sign that encourages “voluntary” turnover. But this isn’t something new for ML. Severance avoidance is their MO…comp is below market and all excess capital goes to buybacks.
They have other problems too. For example, they’ve placed huge bets on commercial real estate. Oops!
This is why they're pushing RTO. This makes people quit on their own and they don't have to pay severance. They listened to the surveys. They are just doing the opposite of what you would expect because they don't want to make people happy.
Not sure what politics have to do with MetLife executives being cheapskates. Seems like that has been a constant no matter who is in the White House.
True. Isn’t the CEOs contract expiring soon? Typically a 5 year gig. Probably get renewed he’s a shareholder puppet and have made them $ happy. Keep the dimwit driving the gravy train and keep salaries for the employee masses at below developed nation status. Go Brandon. ESG,DIE (DEI ha ha) woke smoke. Etc
"Restructuring expenses by out sourcing jobs to 3rd world countries is a short term fix with major long term problems."
True. But:
- The execs will collect ze/zir bonus and be gone. It will be someone else's problem.
- Sad, but true: With all the internal bureaucracy, might as well pay people lower rates to wait around for things to happen. Even if they are far less efficient, they have plenty of buffer time to get things done.
How can they give less in annual increases? .0067?
This company makes billions don’t be fooled.
Just came from a meeting where a VP displayed pure incompetence. I have no idea how this person got promoted to VP in less than 2 years.
Thing about this company is if you are an anointed one the sky’s the limit regardless. The company has zero idea of the talent that it could utilized if not for the high school clique that exists in a Dept that supports the most lucrative US LoB.
Restructuring expenses by out sourcing jobs to 3rd world countries is a short term fix with major long term problems.
Just move the work offshore HAH. That's going so well already
I don’t think Metlife will layoff. At worst may give less increments and less bonus. Many departments have vacancies and are working with minimum resources.
@ybn+1jUxAlHt - Actually lots of deals are hatched at major sporting events.
Want to hear more about these big layoffs across the board. As is, is looks to me like the company has barely enough actual workers. Is this a ploy to make people scared for their jobs so they don't go looking and leave on their own?
If you're talking about AVP and above, and people who sole job is manipulating other people, then yeah, I could see 100% layoff of those folks. But, that will never happen.
When?
There will be big layoffs across the board. Everywhere.
Could be wrong, but don't think MetLife is gonna have a layoff.
Might quiet fire people with small or no raises. Especially if HR thinks you don't have options.
Might sell some businesses. Might buy different businesses.
CEO's gotta make his mark somehow. On second thought, CEO is busy watching "football". He ain't gonna buy or sell anything.