Anyone hear any more info on possible Nationwide Layoffs? They are most likely finished looking at "Co-Sourcing", aka. off Shore hiring and then slashing the workforce. The company lost millions last year. Cuts are coming, you can feel it.
14 replies (most recent on top)
I would agree NW has been quiet with the media, but are dropping headcount fast. Historically, they layoff in small batches and do it consistently to stay off the radar. That along with not backfilling roles and attrition is drastically slimming the company down. Do not know the exact headcount, but is down nearly 10k in the past 7 years. In 2017 there were around 33k...as of 2022 - 24kish. I'm sure two years later that number is even lower. Rumor was the goal being 17-18k. Buckle up!
If there any survivors they’re trying to limit how much you see how they reduced staff. By changing teams you won’t notice your co workers were let go.
With this realignment on April 1st what’s the read on who they’re chopping first? Do we think these additional skill sets they’re giving people are just to prevent panic and they’re just as at risk?
There's information re: severance in the NW policy guide. It's one week pay per year of service. There's a lot of seniority at NW. This outsourcing to save money (do they think we're d-mb?) is going to be costly. Apparently, there are also work or non-work 60-day notices.
Maybe, just maybe, the NW fish is rotting from the head.
Is Nationwide getting out of the insurance biz? It sure seems that way.
Is the discussion of severance in the personal lines service side? Commercial? What are they discussing as far as package?
All we are getting told is info on severance and vacation time payout. No word on who will or will not have a job. No notices yet for my team.
It's all about money, not quality service. If NW wants to save money they should get rid of worthless managers like mine who is never around and serves no purpose. We manage ourselves just fine without her.
I have a 15min meeting today with our VP, HR, and my boss. This is not a good sign.
PL Sales? would that be the SMs or the sales folks that work internal, or both? If they get cut i can only imagine that Servicing will come next.
People in PL sales just got let go. Heard CL sales and UW are next to get cut
I agree. The silence is deafening.
I heard something recently that I interpreted as a hint that layoffs, at least in my area (PL) may be happening further down the line, like May or July. I’m just reading between the lines. No one has actually said anything.
They sent that email on 01/22. 60 days is on 03/22. I expect news in the next week. I bet unlicensed positions are the first to go.
I agree. Farmers, Liberty Mutual, Allstate, Geico have all laid off thousands in the last year so it's strange Nationwide has been so quiet.