Geico 6% Layoff

https://fox59.com/news/national-world/geico-to-lay-off-6-of-workforce-nationwide-internal-letter-confirms/

BUFFALO, N.Y. (WIVB) – Geico is cutting its total workforce by 6%, laying off roughly 2,000 of its employees as of Thursday, according to a letter from the auto insurance company’s CEO.

“This very difficult decision was not taken lightly. We recognize we’re saying goodbye to beloved colleagues and friends, and as a leadership team we are committed to supporting those affected in the days ahead,” CEO Todd Combs wrote in the letter, which was obtained by Nexstar’s WIVB.

Combs said he hopes to “better position [Geico] for long-term profitability and growth.”

Those affected by the sudden decision to let employees go will be contacted Thursday, according to the letter.

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First Farmers, now GEICO… Everyone should fully expect a major layoff is in the works. USAA always follows industry trends. This is especially likely having posted an underwriting loss. I would imagine those in experience roles will be among those involved. I can see USAA separating tenured employees to rehire new ones at a lower scale. The next year at USAA will be very telling.

That means we are next. Wayne follows real leaders in industry decisions. He has no original thought or leadership abilities. He is a self-serving narcissistic who eradicated real leaders out of USAA over the last dozen years. Our BoD should all be canned for allowing this to happen. They shouldn't even be allowed to serve on an HOA.

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Geico 6% Layoff

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