Let’s give a huge round of applause to our CEO and how he executed the TG plan. ALL is at a record high!
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Yes - Totally! - quit with the crying! Same guy who’ll still be whining this time next year! Different year, same whining! Still no further forward! Everyone has choices!
Who cares how Allstate executed TG. Yes people got laid off, yes dept shipped overseas. At the end of the day the CEO and BOD have an obligation to the shareholders!! You don’t like it, leave!! Stop the crying!!!
BIG DOGS in the house!
This line is good for a laugh every single time.
Not sure where that poster was getting their numbers or if just estimating but if the movement of employees to independent vendors is counted along with the layoffs since 2020 I wouldn't be surprised if it is in the 50-75% ball park.
Our enterprise went from literally 1400 employees to under 500.
75 percent of onshore staff was not letting go in last 4 years....ridiculous statement
Now that’s what I call stock prices 2024!! BIG DOGS in the house!
Pretty easy to make the stock prices increase when you let 75% of your onshore workforce go over a 4 year period and replace it with your offshore India workers at 1/3 of the pay and Filipino vendors at 1/5 of the pay. Kind of like the smoke and mirrors of buying market share instead of doing anything of substance to actually earn it. But as long as the stocks are up who cares about plummeting customer service and deteriorating product with the ASC disaster.
Are you in good hands?
Perhaps TW has now learned a valuable lesson that investors value consistent EPS and Dividends, as opposed to episodic periods of policy growth followed by declines. At Q3, auto policies down 378k or 1.5%, even while writing 387k new applications. The sharp increase in rates due to persistent underwriting losses dropped retention to 84.7%. That noted, the diversification and broadening of channels to acquire business has been impressive (direct, IA, EA). As the CPI stabilizes, I'm sure they'll take another crack at market share growth, but hope they stay a bit more disciplined.
I’m sure that means all levels will see great raises and bonuses in March!! :-)