Thread regarding Allstate Corp. layoffs

The Truth of Transformative Growth

This company does not care about the customers, employees, investors, partners, or anyone else. This company now exists for one reason and one reason alone. For Tom Wilson, Mario Rizzo, and their small inner circle of 20-30 people to get filthy rich off of the lying, manipulation, deceit, unethical practices, theft, and mistreatment of their customers and employees. They use the investors and stock holders as pawns and misrepresent themselves at every turn. In reality Wilson and his inner circle do not care if Allstate lasts beyond another few years. Their ultimate goal now is to shove as much money into their personal bank accounts as they can before the final fall of this company. Then they leave employees, customers, and investors holding the empty bag.

Transformative Growth was exposed as nothing more than a slow burn ki-l off of this company at a pace where the inner circle can make bank and the company slowly left to die and rot after they get all the money they can. I know this from experience. Transformative Growth has nothing to do about growth. Just another misrepresented tool that is designed to slowly end the company under the disguise of trying to improve and built it.

Don't be fooled by Wilson and Rizzo. Their goal is to end Allstate all while taking every dollar and cent they can for themselves. I just was not smart enough to hold out and was part of the problem.

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| 1481 views | | 11 replies (last August 23, 2023) | Reply
Post ID: @OP+1nXOZUzL

11 replies (most recent on top)

Disagree. Shareholder and investor is still king.

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Post ID: @itiq+1nXOZUzL

@2vrk+1nXOZUzL The outdated and highly expensive agency model is one of the main blocking factors for this to happen. The elimination of agencies in the next few years will make this more appealing. I think if not for the baggage of the exclusive agency this would be well under way by now. They need to get rid of the agencies, become direct, and this will make what you are saying more appealing and a reality.

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Post ID: @2qnc+1nXOZUzL

There has to be an activist investor out there somewhere who sees Allstate as a big, fat, juicy target to take over and break into pieces.

This company is a zombie-staggering along on name recognition, dwindling capital reserves and dwindling customer loyalty. It won't be here in five years.

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Post ID: @2vrk+1nXOZUzL

Maybe the best post ever by the OP….well said.

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Post ID: @1qgi+1nXOZUzL

Boycott the the town hall meetings they are a complete waste of time and energy listening to how great things are. allstate is on fire with Wilson behind the wheel.

If you are in sales being invited to this conference in Orlando to rub nickels is a $1000 complete joke.

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Post ID: @1ffx+1nXOZUzL

We should all go on strike!

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Post ID: @1zil+1nXOZUzL

This company is in a death spiral.
The end will not happen overnight but by a slow bleed off of assets and customers….Losing market share and industry prestige all the while…
The executives will leave ultra wealthy as this ship slowly sinks….like the Sears that it was destined to become with the old Sears hack Tommy Wilson in charge,…
The plan su-ks, the execution is worse.

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Post ID: @1cql+1nXOZUzL

@teg+1nXOZUzL So it is incompetent stupid executives in over their heads. And a Board of Directors that are just as incompetent and complicit. Got it. Thanks for the clarification.

But for some reason that does not make me feel any better of this company making it.

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Post ID: @1etv+1nXOZUzL

You got it all wrong! Its not some conspiracy by executive management. Not at all. Their focus is shareholder value! Company performance has been poor despite “economic conditions”. TG truly started as transforming how and where you create a truly new way of doing business. I know! It’s turned into cost transformation because insurance is a commodity and Allstate was late to arriving at that conclusion and it became an arms race. So when it simply becomes about getting cheaper and not better, differentiated and consumer centric, you have a problem. Currently they cannot get out of their own way, too slow and strongly suspect they have the wrong people driving the true transformative level of operating model change….so they gravitate to take cost out of the system at exponential levels that likely don’t directly translate to operating efficiencies, but rather labor arbitrage arrangements. It’s the path of least resistance and makes surface level logical and tactical sense, but when it becomes your primary lever, often leads to a death spiral unless done in unison with creating new competitive advantage…see above…think Nokia they did nothing wrong, just not enough right nor fast enough…i suspect Allstate believes they’re addressing both. I would offer an alternative opinion. There is good news as the entire industry is slow, risk adverse and legacy carriers have few disruptive thinkers in their talent pool and pedigree, if any. And if they do their influence and ability to navigate their own organization is hazardous, slow and difficult. What you’re experienced is a business condition of which one can ask the question: how much is self inflicted? I have my thought…

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Post ID: @teg+1nXOZUzL

Unionization has already been squashed long ago. There is no one strong enough left to organize it and not withstand the eventual backlash (although illegal) that Allstate has planned for such an attempt. There is no way unionization gets off the ground at this point as many fear supporting it for threats on their jobs. Allstate does not care about being ethical and legal regarding backlash on unions. I would be 100% for it if it was realistic anymore but that ship has sailed. The time for that was 2020 into early 2021 at the latest.

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Post ID: @lqx+1nXOZUzL

Unionize people. The exposure would be a great way send off. You have no other options to get heard.

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Post ID: @xce+1nXOZUzL

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