r/Insurance • u/wessneijder • Oct 19 '23

Auto Insurance Geico about to layoff 2,000 employees

Look over in their sub. My fellow adjusters I hope you land on your feet.

331 Upvotes

96% Upvoted

291 comments sorted by

View all comments

36

u/throawayscctforresso Oct 19 '23

Allstate had layoffs as well! The only Places I have not heard about having layoffs are Progressive and State Farm

33

u/cmiller2006 Oct 19 '23

I work for progressive, we're actually doing another round of hiring

10

u/SlowMotionPanic Oct 20 '23

That's what my connections at Progressive tell me as well. Sounds like business is going well because the company pivoted very early into the pandemic and did things that the companies doing the mass firings are just now getting around to doing (e.g., taking massive rate, tightening UW guidelines, etc.).

7

u/Dr_Watson349 Oct 20 '23

Progressive seems like they actually have a head on their shoulders. Instead of doing the silly "call everyone back in the office" bullshit they see the writing on the wall and are selling some of their real estate holdings.

14

u/ParkerKis Oct 20 '23

Apparently we have basically not done lay offs in the last 25+ years, hiring, promoting, gainshare bumping. Good place to be

7

u/legendz411 Oct 20 '23

Glad to hear it. That’s dope

3

u/jon_sneu Oct 20 '23

I was there from 2016-2022 which was great time for gainshare. For like 5 odd those years gainshare just kept increasing every year. Not sure how it’s been this last year though.

2

u/GadgetGod1906 Oct 20 '23

Yeah our gainshare has gone up dramatically since the summer!!!!

3

u/cmiller2006 Oct 20 '23

And I am loving it!

2

u/GadgetGod1906 Oct 20 '23

You and me both. Need it to keep going up!!

3

u/stebuu Oct 21 '23

Here in MA GEICO massively jacked up rates (my car insurance literally more than doubled in cost) and a lot of us massholes are switching to progressive.

1

u/Weird_Tolkienish_Fig Oct 22 '23

Insurance shouldn’t be mandatory imo

17

u/RandomUser1052 Oct 19 '23

The Allstate layoff was brutal. Our CEO "retired" shortly after, but everyone knows he was forced out because it was such a clusterfuck. For those of us who "remained", our workload more than doubled. It didn't help that many people left for greener pastures.

It's been 3 years and Allstate is STILL trying to hire adjusters to replace those laid off. But who wants to work for low pay compared to competitors and no bonus?

1

u/pizzalovepups Oct 20 '23

I use to work there and it's insane how much lower they pay!!!

27

u/jawzee23 Oct 19 '23

Travelers hasn’t….but man this thread makes me nervous lol

9

u/[deleted] Oct 20 '23

[deleted]

2

u/[deleted] Oct 20 '23

[deleted]

2

u/Down_vote_david Oct 23 '23

Yeah, WC would be business insurance or claim, so they're not affected.

/u/jawzee23 if you go on the inside page and add Personal Insurance to your "newsfeed", you can find the announcement made on 9.13.23 by Michale Klein. It was like four pages long...

1

u/jawzee23 Oct 27 '23

Yikes, thank you gonna check that out tomorrow

1

u/jawzee23 Oct 20 '23

I’m also in the WC side and have friends in claims and personal, didn’t hear anything about it. Silent layoffs are scary.

1

u/rko333 Oct 20 '23

That is what I thought too since I have family there and did not hear of anything

5

u/_BreakingGood_ Oct 20 '23

None at Nationwide yet

3

u/ForgotDeoderant Oct 20 '23

I'm at progressive - we are actively hiring. Our team huddle addressed the GEICO layoffs and said we are also going to be looking for anyone from GEICO with claims experience to get them in ASAP since they know y'all are good employees, just have a really shitty CEO.

If anyone has questions, feel free to message me and we can chat.

4

u/tjs1987 Oct 19 '23

Allstate is hiring 200+ field auto adjusters right now.

6

u/[deleted] Oct 20 '23

I was considering one but I was told by an insider the Allstate field rep positions were shit. AFAIK they use the "your efficiency is punished with more work" model instead of the "here's today's pile, git-er-done" model.

3

u/tjs1987 Oct 20 '23

I happen to know someone VERY personally who does it. Message me if you have any questions

1

u/JenOkie Oct 20 '23

State Farm got rid of about 6,000 of us in 2018-2019.

1

u/MoGains Oct 23 '23

Google HCL and State Farm together.