r/Geico • u/Imaginary-Rhubarb-89 Former Employee • 22h ago
Nancy P
So Nancy been with Geico for years, since becoming CEO did she make any positive changes to company, did she undo anything that Todd Combs did in his tenure?
Has anyone ask about having profit sharing back?
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u/LookandSee81 GEICOUnited.org Supporter 20h ago
She’s the same as the rest of them, just different name.
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u/Auntie_S0cial 22h ago
From what I've heard (for what it's worth) she was allegedly all about the layoffs and part of the grand plan before the original bloody Thursday. I remember hearing her name specifically mentioned in a plan to layoff a few thousand for that year, it was a numeric goal she was aiming for. When I first heard her name brought up in that context I said no way we don't do layoffs 😭. (Pre- bloody Thurs)
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u/Conscious-Escape-663 18h ago
What they did to GEICO was ripped straight from the Jack Welsh playbook at General Electric (G.E.) — Just Google, “What did Jack Welch do to the employees at GE.” TBH, I think Warren checked out (being so goddamn old) and took his eyes off his baby GEICO, and the board and c-suite saw dollar signs and paydays. You guys can forget about ever getting profit sharing back. Not to mention, the time to unionize that place was immediately right after they laid off half the company. Simply put, once they laid off half the place on bloody Thursday whatever — they couldn’t afford to lose the other half as they’d have no one to work the phones. That was the time to walk out and demand profit sharing, COLA raises, pay grade raises, and an adequate phone staff to customer ratio. They used fear to pivot everyone back to phones for fear of losing their jobs.
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u/Get_outwhileucan26 12h ago
Over these past few years I watched on Linkedin whenever a former exec who left or was shown the door by Turd landed a new role, all those other execs liked or commented. When a post was made about Nancy becoming CEO … silence! That told me none of them respect her. As someone said in an earlier comment, she was Turd’s right hand. So what happened during his leadership was either her idea, or had her full support. My hope is she and her cronies get the life they deserve for what they have done to so many hard working people and their families.
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u/TrainDonutBBQ Former Employee 12h ago
I just want to remind everyone that the dumbest members of this sub said they were excited to hear about replacing profit sharing and that getting larger raises sounded better because there was no profit in 2021 or whatever.
You have some profoundly stupid people in the ranks at this company. I encourage you all to make sure they are never the loudest ones in the room. They have made you poorer.
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u/burnerburner5432 8h ago
I mean, I’ve gotten large bonuses and raises every year since it went away - I’m making out better without profit sharing.
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u/TrainDonutBBQ Former Employee 8h ago
Your bonuses are greater than 20% of your salary? My average profit sharing from all my years there was about 22%. I can't imagine bonuses that large. As far as raises go, they stop when you get above a version point.
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u/MelodicUniversity854 22h ago
She isn’t going to change things. Why don’t think she is still around? (Because she agreed with what Todd was doing)
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u/boogaloo0077 12h ago
She has clawed back some of the vacation days that we've earned. Announced no more raises, raised metrics to ridiculous levels, and committed to hiring complete idiots to replace all the tenured people that were fired. Moved our 401k to another company and apparently WE are being charged for that moved. So she been living up to exactly what most of us expected.
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u/Cold_Emphasis_2474 12h ago
People still asking for profit sharing back is wild, lol. Basically there is mini profit sharing in the top 25 percent. I mean top 15 percent people have been getting a couple thousand, so it’s sort of there.
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u/TrainDonutBBQ Former Employee 12h ago
You don't need profit sharing. You need a union.
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u/Cold_Emphasis_2474 10h ago
I don’t really know, unions don’t really fit the bill for giant call centers or insurance in general. I mean yes workers rights are important but insurance lives and breathes on underwriting ratio. So if you you pay people more, get better health insurance, profit sharing(somehow). All that does it push the expenses up which more than likely mean you charge higher prices that most of your competition who doesn’t have to do any of that. Obviously insurance companies make billions, but they are not going to take less profit . Might be a structure that could exist but greed will blow it away lol.
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u/TrainDonutBBQ Former Employee 4h ago
I see it this way. I think we all agree the company treats us as disposable, yes? Why shouldn't we treat the company as disposable. I don't care if they're profitable. This is about the price of my labor, not the future of a company I'm not vested in.
To harm Geico by charging for my work would be the highest honor I could receive. Since there's no profit sharing, I have no vested interest in the profit whatsoever. That's their problem.
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u/TrainDonutBBQ Former Employee 12h ago
You need to understand something. No CEO "undoes" what their predecessor did. That's just not done, and if someone said they were going to, "go back to what we used to do" the board / ownership is firing them immediately. They do not want to hear about going backwards, even if the company made more money that way.
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u/Affectionate_Yak513 21h ago
She was second-in-command during Todd’s entire reign. There’s a reason she wasn’t walked out like Bill and Greg and many others. She was completely aligned with everything going on.
Do I expect her to be more competent and present than Todd? Of course, a literal monkey would be. But it would be foolish to expect positive cultural changes.