Northbrook, Illinois-based Allstate, the iconic provider of insurance and financial services, has announced that it continuing with its restructuring and what the company characterizes as its multi-year Transformative Growth Plan.
"The goal of the Transformative Growth Plan is to increase personal property-liability market share by expanding customer access, improving customer value, and investing in marketing and technology. Customer access has been expanded by merging the Esurance and Allstate brand direct operations. Improving customer value includes improving the competitive price position of auto insurance, which requires cost reductions to maintain margins."
A key provision of this plan is a cost-cutting program that will impact 3,800 employees primarily in claims, sales, service, and support functions.
According to a company spokesperson, “Implementing this plan is difficult as we still deal with the impact of the pandemic but necessary to provide customers the best value. We have expanded transition support for impacted employees including prioritized internal hiring, extended medical coverage, expanded retraining support, and help in employment searches.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?