Read an article yesterday that NW is planning a big layoff starting next month impacting Pet, P&C, and Innovation. The company use to be a great place to work and often saw people there 20+ years. Now feel like a target.
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Glad I jumped ship 6 months ago. Mass exodus of mid/upper management employees with long tenure. Even agents are noticing it.
Expect layoffs to be announced today 07/23/2024 because that's what happened. They are aiming for early/mid 2025. Nationwide su-ks hard and doesn't give a rip about their employees or customers from what I can tell.
Expect layoffs to begin next week. Information is that it’s highly likely to start the week of the 29th. This seems plausible since many new leadership positions and plans are set to start on August 5th. CSC is also very likely to receive notices next week.
07/22 direct sales nothing
In regards to layoffs or “right-sizing” as they call it, a whole lot of nothing. At the start of the meeting they said they’re aware of the high tensions but will have more info early August. Rest of the meeting focused on NW’s market identity and target classes. (Small Commercial UW)
I hear there's a big layoff meeting with underwriting today. Anyone hearing anything?
Direct sales, nothing happing as of 07/03 but all nervous
A processing department located where?
A processing department is shutting down. Some laid off soon and some sticking around until the outsourced work is learned.
Jack, where did you hear that independent agencies have to pay to get claims service from the service center?
I was an MD claims manager I was told a month before my 25th work anniversary my job was being terminated A lot of other veterans were told the same thing. Get out now! They have no loyalty for employees. Mark Bervin lied about layoffs the day after Walker said they were coming! I’m glad to be out of there!
A significant amount of underwriting work has been transferred to the service center and processing this year. Many layoffs are expected in underwriting, as offshoring the service center and processing teams is much more cost-effective. Although there have been vague discussions about impending layoffs for over a year, no official notices have been issued to employees in these roles, leaving most commercial team members in the dark about their future.
These will likely be positions that the company had already warned the employees who might be affected about several months ago. NW recently switched to a program where independent agencies have to pay to have the NW service center assist their policyholders. Since most agencies have not signed on for that, there are too many service representatives, unfortunately. I would guess that will be the bulk of the layoffs. There were several smaller departments that were potentially going to be affected as well. For employees that have worked for NW for many years, this will be a real kick on the gut.
Anyone know how many positions will laid off from underwriting?
Thanks for posting the article! I wasn’t keen on giving out my business email.
Nationwide really enjoys dragging everything out. Just ask any Private Client employee.
What about vendors like CTS , TCS and Accenture who are robbing us of our jobs in the name of off shoring.. absolutely trash quality from vendors and yet they get paid higher than us
Nationwide to Cut Jobs Soon in P&C, Pet Business
The number of layoffs is unclear, but the carrier says its responding to market changes as it continues to modernize.
By Carl Winfield| June 6, 2024
Nationwide will cut jobs across multiple departments and lines, including P&C, as early as next month.
"We are positioning our property and casualty, pet business lines, our corporate development and our innovation teams to maintain stable pricing to serve our members and agents for years to come," a Nationwide spokesperson said in an email.
The spokesperson characterized the impending layoffs as "periodic business strategy updates," and added that such updates typically include shifts in staffing based on evolving business needs.
"We do not know specifically how many roles will be affected by these targeted changes," the spokesperson said, noting that the carrier's financial services business lines will not be affected. He added employees cut will be able to seek other positions within the company.
"Nationwide currently has roughly 400 open roles nationally and eligible associates are able to apply for these positions," he said.
The Columbus, Ohio-based company's cuts come against a backdrop of change in its pet insurance unit. Late last month, the carrier announced that it would stop covering 100,000 pets across the country due in large part to inflation and the rising cost of veterinary care. It also announced the appointment of Joel Carnes as chief pet officer.
Would anyone mind pasting the text of the article here?
It was featured in the trade magazine p and c specialist. You need to sign up to see the articles but is free.
Not seeing any recent articles about layoffs. Please tell me the source and title.
I was thinking they are done for the time being.
I saw the article too. Does anyone know if it was referencing the cuts that are already happening or new ones still to be announced?