This is serious. State Farm plans on letting all of ET go within the year. There will be 4 announcements (1 per quarter). State Farm has decided that they are not a technology company, but an insurance company and will cut back completely on ET. Start looking for new jobs now.
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220,000 employees deployed in 60 countries. Wow that's big. Bet most all that laughter is from India given 80% of that count is located in India.
They have been a successful tech company for almost 50 years-unheard of in the tech industry. They have 220,000 employees deployed in 60 countries. Your comment would provide them a lot of laughter.
Not a chance. Think of the risk and logistics of such a change in that time-frame. Only a fool would believe this is even remotely true.
Anything put into ANY "Cloud" is vulnerable to "Corporate Espionage..." buyers beware....
This is completely untrue. Stop looking at this garbage.
It's all about the bottom line. SF is losing it's shirt all around, market share, investments, underwriting loss, expense ratio etc. How do we fix the situation. Let's look at the balance sheet and the two largest items that stick out are Agency and ET. So where are we going to cut your losses. How about ET with all it's antiquated systems, support people and infrastructure, large data centers. Lets get all our data and apps on the cloud/AWS whatever so we can shave that ET expense. Hopefully the reliability and security of the cloud stand up to the service and satisfaction the customers deserve and the HCL Tech contract price achieves the expense reduction expected to help get to a profitable footing. Sorry for turning the life of thousands up side down.
This same thing happened in 2018 I think , a bunch of ET long term employees tried to save their pension by coming to claims. Not one of them in injury stayed longer than 6 months I don’t think. Claims is a grind everyday, we are always having staffing issues for a reason. Think hard before you come here friends.
The pension buyout is due to tenure. Most don’t have many years with SF so they may take the buyout. If they have a 20 plus year employee they would not take a buyout. But a five year employee may take the money upfront instead of receiving a 2 dollar a check a month from SF when they retire
Thank you poster. I was wondering when the lunatics would start posting nonsense. You also posted several times about the pension being eliminated for tenured employees. Guess if you speculate long enough you might find one that actually sticks. Next.
This seems very likely since our area wasn't affected but we've been given an aggressive timeline to move to aws. Get your cr-p on aws so we can let you go!
If they are, the vast majority of existing tech employees would accept the qualifying offer from HCL and to qualify for severance the offer would have to not be substantial enough to get the severance so one assumes that HLC probably pays pretty comparablely to what SF so no worries in the short term imo as long as you aren’t forced to relocate. That would pretty much make it sound to me that SF considers HLC better able to manage tech in general than themselves so the issue would seem to be with SF MGT. another issue is the rumors of pension buyouts for those taking jobs with HLC as buyouts have been rumored for a while.
Then they're doomed to fail. ALL companies are tech companies now, it's just whether or not they recognize it. Maybe not your primary product, but you're a tech company.