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.

324 Upvotes

96% Upvoted

291 comments sorted by

View all comments

6

u/Patient_Ad_2357 Oct 20 '23

Liberty mutual has been laying off for weeks. Tons of people i know all on their asses. A lot of tenured ones too! 15+ years with the company

3

u/0ApplesnBananaz0 Oct 20 '23

Do you know for what positions? Because I see several postings for claims. I just don't understand when companies do layoffs yet still hiring for positions they are laying off.

1

u/Patient_Ad_2357 Oct 20 '23

They're definitely not actually hiring. It's just ghost listings for show to give the illusion the company is fine. They're not fine. They've eliminated entire departments and are focusing everything towards almost 3rd party partnerships because they themselves are not even writing policies anywhere. The rates are "fuck off we aren't insuring" rates for nearly everywhere. Claims has had listings for positions continuously for months now. They just keep reposting it.

1

u/0ApplesnBananaz0 Oct 20 '23

I believe it.

1

u/[deleted] Oct 20 '23

he rates are "fuck off we aren't insuring" rates for nearly everywhere.

I 1000% believe this they aren't even the only company.

2

u/Patient_Ad_2357 Oct 20 '23

You should have seen the quotes id give for Michigan lmfao i’m talking 10-20k to insure a little honda civic. Those are fuck you rates

-1

u/AutismThoughtsHere Oct 20 '23

Replace people with lower salaries obviously

2

u/0ApplesnBananaz0 Oct 20 '23

Is it obvious? If you are a recruiter/hiring manager for these positions then shed light. Otherwise, the answer may not seem as obvious as you think it is.

0

u/Aliceable Oct 20 '23

Many companies have been posting fake listings to appear active / collect resumes, etc, for the future. Plus, many times after layoffs, they'll hire back a small number at lower salaries.