Can anyone confirm or squash rumors that abound regarding the board meeting? From everything I understand, it became quite heated. I understand the nature and veracity of rumors, however, in my years of experience, there is always some hint of truth.
22 replies (most recent on top)
I heard the rumor is false. Fake news. Dis-information. I don’t know what to think now. If it’s not true, another crushing blow to the people at State Farm.
This is a Public Relations nightmare. Someone needs to step up and either squash all of these rumors or own it if any are true! You're ruining the Company.
All anyone can do is realize their job is temporary. Payoff debt like crazy. Know that your job can go away any day. The company is not loyal to any employee. Dont be loyal to them. Do not refer for employment or for carring the insurance
Mangers and peons alike getting cut for nothing but reorganization to the hubs. They want 30% turnover in hubs. And that's what is happening. What they r too stupid to realize is that customer service s---s when turnover is 3 mths. I work for a check. I do my job well. No more no less.
No more referrals for insurance or employment. Both of those r a "hell no" if asked. Look at it like this. The company does not give a rats a-- about employees cutting them with years of dedication without notice. Why should we give a rats a-- about the company.
To the troll. No. I knew it stated benefits can change. N yes I fully expected my salary to increase. No there was no binding contract. Like some e would sign one stating their salary would not increase. And by the way. F u. I know what is going on in the end real world. But still when you put in 30 years and then all the sudden it's changed on you doesn't sit well. Wish I had my years in somewhwere else. All of this makes my point. No loality to me - no loyalty to them. Btw. U r an a hole.
Freezing the pension basically means freezing your pension benefit at the point where it is currently, and not allowing it to grow further. One would hope such a move would be accompanied by a more generous 401K plan.
What does it mean to freeze a pension?
While they can change the benefits package whenever they want, there are a number of things they cannot do:
1) They cannot legally deny you benefits that you've already earned.
2) They cannot fire you just to lower their liability for your retirement, per age discrimination laws.
Things they could do:
1) Freeze the pension.
2) Dissolve the Pension trust, forcing a cash pay-out.
If you actually read your paperwork or the HR manual it tells you they have the right to change anything regarding benefits at anytime.
Ignore the troll.
#metoo would be an interesting twist and not entirely unexpected.
Fooledbythefarm, you complain about benefits changing over time. So does that mean your salary should have remained the same over the course of your career? That’s what you signed up for isn’t it? Read the newspapers and look what’s happening in the real world. Salaries, benefits, jobs are constantly evolving. Did you really think you signed some sort of “binding contract” when you joined your company? You held up your end of the deal, what deal? There is no deal. Crazy talk
And I want to say this too. I have 29 years in. 49 years old. When I hired in there was a set of benefits offered and a pension. All I want it what I signed up for. How is it possible that I held up my end of the deal and came to work all these years busted my a to get good rateings. And now they can just change the deal and screw me out of retirement benefits. What a terrible company. I think they should have to provide me the benefits offered when I took the job. I Think That's fraud. It's like here's your benefits and you work there 30 years and then they say "just kidding" no benefits. Go f yourself.
Wait until #metoo hits the Farm.
Sadly, if true, it’s too little too late.
While product and pricing are important, if you can’t deliver on the promise because you’ve hamstrung and mistreated your employees;
game over. When it comes right down to it, they are the brand.
Heard the same, hear Tip is falling on his sword sooner rather than later.....but I also heard that 2 months ago.
Employees have no faith in the company. That's gone. Too many employees have been wronged and it's a matter of time before all are affected. You cannot expect loyalty from employees when there is no loyalty to us. If they offered voluntary severence across the board today they probably wouldn't have enough employees employeed tomorrow to be open. I think everyone understands cuts need to be made but to cut long time employees close to retirement says a lot about how sorry a company it is. Some departments are getting hardly any notice before the cuts. Some buildings have years notice but that means nothing when they are cutting in departments. So you have 2 worries will my dept be next and when will they close the office. The stress is affecting people's health. To cut a good employee from a job that has 30 years in but too young to retire is just sorry. A company like this deserves to fail. This could have been handled in so much of a better way. Example. Years plus service = a number and you get full retirement and let folks go the right way. Soooo would have saved the farm's reputation. Would have been nice to say ya they done good by me. Instead of ya they fu---- us all. Hope lube is offered in the select a gift this Xmas.
Heard that someone was Jr.
I heard that someone had words for Tippy and the poor treatment of employees and our losses.
I hear Tipy is out?
I think the Board members should read the State Farm Mission:
COMPANY OVERVIEW
State Farm® Mission
Our Mission, Our Vision, Our Shared Values
The State Farm mission is to help people manage the risks of everyday life, recover from the unexpected, and realize their dreams.
We are people who make it our business to be like a good neighbor; who built a premier company by selling and keeping promises through our marketing partnership; who bring diverse talents and experiences to our work of serving the State Farm customer.
Our success is built on a foundation of shared values — quality service and relationships, mutual trust, integrity and financial strength.
Our vision for the future is to be the customer's first and best choice in the products and services we provide. We will continue to be the leader in the insurance industry and we will become a leader in the financial services arena. Our customers' needs will determine our path. Our values will guide us.
Don't worry... just do what the executive contractors and silicon valley imports say... It's not like a real leader would go with his gut or anything crazy like that!
I hope so. That we're on the wrong track is obvious. I heard there was a lot of anticipation going into it.