Just do a quick google search for all the lawsuits MM has been hit with. Perhaps that may be reason 1 of many for the layoffs that keep happening. Example: Employee Retirement Income Security Act violation, Failure to Monitor Fiduciaries, Some lawsuits claim that MassMutual favored its own interests over plan participants by selecting proprietary investments and transferring assets into the company's general account, Several lawsuits have alleged that MassMutual breached its fiduciary duty by charging excessive fees in its 401(k) plans and offering underperforming proprietary funds, MassMutual Ascend data breach, A lawsuit filed by NeuGen LLC alleges that MassMutual breached a contract, resulting in losses of retirement savings for nearly 300 people, MassMutual was fined by Massachusetts regulators for failing to adequately supervise a former employee who was involved in promoting GameStop's stock, which contributed to a trading frenzy, just to name a few. Do a deep dive and decide for yourself.
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MM has done a lot wrong but all of our competitors have had similar lawsuits. It’s not unique to MM.
The layoffs are happening because they can pay an engineer in India $10 an hour instead of six figures + benefits in the US.
There’s a lot of people of many backgrounds doing much research on many things and ventures and investments things - motivated and opportunistic minds of all sorts were let go and we know not everyone signed for severance. This company is all risk right now. (All strictly personal opinions)