I did work for Safeco for less than $50,000, how does that add up? Now I am laid off and watching Mash reruns….This is my 2nd corporate downsizing. I think I will open a bait shop…
Maybe if Mike McGavik gave back the 28mm he took and didn\’t earn upon leaving SAFECO, the company would need to downsize again. Wait, silly me then Mike wouldn\’t be able to run for Senate in Washington.
Gee, sounds like Reliance….or, perhaps, the restructuring following the Travelers -St. Paul merger. All in all, the fools at the top screw up and the rank & file suffer.
You must not rely on investment income to earn profit, or the goodwill of your cronies; disciplined underwriting & risk control techniques are what makes insurers profitable. DUH!
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I am sure that includes real estate
If Safeco can save 75M by cutting 240 jobs, these people were averaging $312,500 a year each! I\’ll do it for $250,000!
I did work for Safeco for less than $50,000, how does that add up? Now I am laid off and watching Mash reruns….This is my 2nd corporate downsizing. I think I will open a bait shop…
A new CEO with no insurance experience. Isn\’t this out of the Basic Corporate Turnaround 101 textbook used by any industry?
Maybe if Mike McGavik gave back the 28mm he took and didn\’t earn upon leaving SAFECO, the company would need to downsize again. Wait, silly me then Mike wouldn\’t be able to run for Senate in Washington.
Side note, I didn\’t make $312,500 year.
The Safeco way: Employees find out their future by reading the headlines…always the last to know. Mr. McGavick, give us our money back.
First the on line direct marketing, now this. Sounds like pretty soon, Safeco will be just a bank of computers.
Gee, sounds like Reliance….or, perhaps, the restructuring following the Travelers -St. Paul merger. All in all, the fools at the top screw up and the rank & file suffer.
You must not rely on investment income to earn profit, or the goodwill of your cronies; disciplined underwriting & risk control techniques are what makes insurers profitable. DUH!
When will this Old Boy madness cease?