Thread regarding Mutual of America Life layoffs

"but didn't explain it and said talk to a labor lawyer so this poster must think he/she is a lawyer"

I did see that.

The poster stated

"Check with a labor lawyer and you will see you are wrong! "

So check with a labor lawyer, i am sure the poster is NOT a labor lawyer just as NONE of the posters who say they violated the law are.

As far as the WARN Act goes, can someone explain how Mutual didn't violate the WARN Act at least in New York State. There was a commentator who said that other commentator was wrong but didn't explain it and said talk to a labor lawyer so this poster must think he/she is a lawyer so tell us, under what clause, how didn't company violate the WARN act. We want to hear how you are spinning it.

"The company violated the WARN Act "

As usual wrong!

Do you see amy lawsuits/ Do you see any regulatoryagency step in?

Answer to both is no!!

Check with a labor lawyer and you will see you are wrong!

I'd like the company to hire a couple of outside auditing firms to verify the participant count of 540,000. Seems extremely high. They also need to audit the sales numbers and the formula and numbers being presented to the Board. Are they double counting internal IRA premium as actual premium ? If I was a board member, I'd be very skeptical of the slight of hand that Chris "Conjob" might, just might be presenting. In the last few years, no one, no one trusts the numbers coming from upper management and the numbers don't lie ? Or Do they ?.....

To the previous posters comments below:

1. The company violated the WARN Act with the layoffs because they gave no notice
2. Anyone can request from the NYDFS a copy of the 5 Year Plan

Previous Posters Comments Below;

NOT a right to be told what the company plans to do in the future,unless there is a definite contract to do what the company planned. A 5 year plan is for management and they can tell employees as a curtiosy if they want. Did they give any notice about the first layoffs. Answer is NO!! Nobody sued or did any regulatory agency investigate.

If you believe what you are saying, then sue and see how far you get.

"WE COLLECTIVELY are all part owners in the company so we have a LEGAL right to know."

You only have thr right to know changes to benefits, office hours/rules,etc.

NOT a right to be told what the company plans to do in the future,unless there is a definite contract to do what the company planned. A 5 year plan is for management and they can tell employees as a curtiosy if they want. Did they give any notice about the first layoffs. Answer is NO!! Nobody sued or did any regulatory agency investigate.

If you believe what you are saying, then sue and see how far you get.

If they have 540,000 participants, I’m probably 15 or 20 of them. Each separate account in each product (FPA, 401(k), …), plus DB, GLI … is probably counted as a participant. And I don’t even have money there anymore. I was able to get my money when they were still answering the phone.

Has the new CFO resigned yet ? I'm sure once she fully examines every thing, she change her Linkedin status to "Open to Work."

Besides, she'll probably want to rip up that 5 year plan. I'm sure she'll want to revise it once she settles in.

More layoffs ?????????

The few numbers that were there weren’t even truthful. Most egregious lie was a claim to serving 512,000 participants.

COMMENT: the company is now claiming they have and are servicing 540,000 "active" participants. It's anyone's guess how they are determining that number but that number seems extroadinarily high. There needs to be a TRUE audit of the actual sales numbers, plan numbers, and participant count numbers so the clowns who are still there are held fully accountable.

"We have a right to know what is in this so called plan."

No. Employees and retirees do not have a right to know. The only thing employees have a right to is the salary agreed to be paid, all published benefits, a safe working enviroment. Even increases employees do not have a right to.

For good relations manangement should let employees know, but they are not obligated.

TRANSLATION: Someone from HR is on here with their corporate spin. Stephen Rich said in the Town Hall that EMPLOYEES are stakeholders. As stakeholders and as a Mutual company WE COLLECTIVELY are all part owners in the company so we have a LEGAL right to know.

The few numbers that were there weren’t even truthful. Most egregious lie was a claim to serving 512,000 participants.

If I recall, the last Annual Report,
Maybe the last few, contained exactly zero financial pages. I would expect the same again.

Mr. Moran’s Strategic Plan was missing any numbers. No reason to publish a plan we would never hit or with embarrassingly low goals we could hit.

If the current Strategic Plan is a secret, how are employees to know what to do to achieve the goals set out?

Heard annual report coming very soon.

Responsible Transparency - not Fl----r Transparency (some things need to remain private).

Tom Moran had 5-year plans and he did not share those plans with all employees and retirees.

Why? What is it that they are hiding?

I thought Stephen preached transparency? Where is the transparency if “employees and retirees do not have the right to know”? Seems like the townhall is a cover as they pretend to share information but the truth in the 5 year plan isn’t being shared.

"We have a right to know what is in this so called plan."

No. Employees and retirees do not have a right to know. The only thing employees have a right to is the salary agreed to be paid, all published benefits, a safe working enviroment. Even increases employees do not have a right to.

For good relations manangement should let employees know, but they are not obligated.