Farmers Insurance Laying Off 11% of Workforce, Citing Industry Challenges
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Farmers Insurance Laying Off 11% of Workforce, Citing Industry Challenges
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Re: Farmers Insurance Laying Off 11% of Workforce, Citing Industry Challenges
#2All I see in the article is the discussion of "profits".
I would think the PR department could come up with something about "trying to keep costs competitive for our customers" or something like that. Instead they're telling California and Florida customers to take a hike ... along with 11% of their employees.
When is the last time we heard a company enact a company-wide, 50% cut in officer's salaries and a freeze on their compensation?
Re: Farmers Insurance Laying Off 11% of Workforce, Citing Industry Challenges
#3All I see in the article is the discussion of "profits". I would think the PR department could come up with something about "trying to keep costs competitive for our customers" or something like that. Instead they're telling California and Florida customers to take a hike ... along with 11% of their employees. When is the last time we heard a company enact a company-wide, 50% cut in officer's salaries and a freeze on…
Who cares? It's just business.
Re: Farmers Insurance Laying Off 11% of Workforce, Citing Industry Challenges
#4All I see in the article is the discussion of "profits". I would think the PR department could come up with something about "trying to keep costs competitive for our customers" or something like that. Instead they're telling California and Florida customers to take a hike ... along with 11% of their employees. When is the last time we heard a company enact a company-wide, 50% cut in officer's salaries and a freeze on…
Re: Farmers Insurance Laying Off 11% of Workforce, Citing Industry Challenges
#5All I see in the article is the discussion of "profits". I would think the PR department could come up with something about "trying to keep costs competitive for our customers" or something like that. Instead they're telling California and Florida customers to take a hike ... along with 11% of their employees. When is the last time we heard a company enact a company-wide, 50% cut in officer's salaries and a freeze on…
I mean I rather companies just be more clear and simplistic w/ their language.
Re: Farmers Insurance Laying Off 11% of Workforce, Citing Industry Challenges
#6All I see in the article is the discussion of "profits". I would think the PR department could come up with something about "trying to keep costs competitive for our customers" or something like that. Instead they're telling California and Florida customers to take a hike ... along with 11% of their employees. When is the last time we heard a company enact a company-wide, 50% cut in officer's salaries and a freeze on…
Who cares? It's just business.
Investors for one, I get annoyed at overly generous executive pay because it costs me money.
Re: Farmers Insurance Laying Off 11% of Workforce, Citing Industry Challenges
#7I really don't think an insurance company should have 24,000 employees.
Even 240 employees sounds like too many to me.
They serve 10 million customers. Nearly every customer should be able to use an entirely automated online form for signing up and for making insurance claims. Claims should be settled entirely with the customer uploading a 1 minute video showing what damage occurred, plus the bill to fix it.
Assume 1 claim per customer per decade, and each claim takes an average of 10 minutes to handle (check video, spot check bills, make payment), thats 100 full-time claim agents.
The other 140 employees can make a great website, policy pricing algorithm, and be in the finance/HR department.
Re: Farmers Insurance Laying Off 11% of Workforce, Citing Industry Challenges
#8All I see in the article is the discussion of "profits". I would think the PR department could come up with something about "trying to keep costs competitive for our customers" or something like that. Instead they're telling California and Florida customers to take a hike ... along with 11% of their employees. When is the last time we heard a company enact a company-wide, 50% cut in officer's salaries and a freeze on…
I hate to be that person, but this is the future. Because of climate change, more of our country is barreling towards "uninhabitable".
It's not Farmers fault that we released too much CO2 and now wildfires and hurricanes are way worse and getting even more worse.
If the people of California and Florida want insurance so they can build matchbox houses in high risk disaster zones, then they can start a public insurance fund and pay for it with their own taxes.
Re: Farmers Insurance Laying Off 11% of Workforce, Citing Industry Challenges
#9Earlier quoted context omitted.
Who cares? It's just business.
Investors for one, I get annoyed at overly generous executive pay because it costs me money.
> overly generous executive pay ... it costs me money
But how can you prove that? The very justification for generous executive pay is that you couldn't get most people to do that role because it's so demanding and without these particular people, revenue/profits would tank. (slight exaggeration, but I don't think by much).
Re: Farmers Insurance Laying Off 11% of Workforce, Citing Industry Challenges
#10All I see in the article is the discussion of "profits". I would think the PR department could come up with something about "trying to keep costs competitive for our customers" or something like that. Instead they're telling California and Florida customers to take a hike ... along with 11% of their employees. When is the last time we heard a company enact a company-wide, 50% cut in officer's salaries and a freeze on…
I hate to be that person, but this is the future. Because of climate change, more of our country is barreling towards "uninhabitable". It's not Farmers fault that we released too much CO2 and now wildfires and hurricanes are way worse and getting even more worse. If the people of California and Florida want insurance so they can build matchbox houses in high risk disaster zones, then they can start a public insurance…
They did, from federal taxpayers.
https://en.wikipedia.org/wiki/National_Flood_Insurance_Progr...
From my understanding, this subsidy to people living in flood prone areas was basically untouchable due to Florida’s status as a swing state. I wonder if that has or will change due to Florida no longer being a swing state.