Did Festog, Donaldson, and Greed get laid off now?
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Are there any updates about Loughery ? She went on some type of "leave" right around the time Greed and Severin got the ax. Where the three of the involved in something ?
John Greed is a snake. We'll never understand why Tom Moran picked him to take over the company. Greed's leadership tenure was a complete and utter failure. Tom thought he "groomed" John to be more like him, but he could never be Tom Moran. And Mutual has paid dearly for that mistake ever since. Tom also reluctantly agreed to let him bring Festog back. Another monumental mistake. Greed and Festog truly are the worst leaders. Not only did they run the company into the ground, but they were also of extremely poor character. How many harassment claims did Greed have before he was finally fired. And what about Uncle Festy?!? Mr. Inappropriate Comment himself. Two very bad people. Incompetent and poor character! One can only hope that someone hunts them down and makes them pay for what they did. Everyone makes mistakes but normal people learn from their mistakes and do things differently. But malignant, sociopathic narcissists don't. That's precisely what Greed and Festog are. They don't deserve forgiveness because neither one of them will ever admit they were wrong. Heck, Festog is writing a book on leadership?!? Clearly he hasn't learned his lesson.
The sad part is that the execs like Greed, Festog and Donaldson walk away with large retirement/separation packages. While the average employee who made a lower salary for years of service, believing their pension and retirement plans/benefits would be intact, are sc--wed. Typical behavior by the executive leadership team. They sc--w up and still walk away with millions.
Reading all these posts is sad. Because it was all preventable. Greed and Festog took the Company down a path of outlandish spending on things that were not priority. Yes the benefits were generous and changes needed to be made to remain current. However, the money spent on the building was absurd. All on the whim of Festog. And the CHRO played a part in reshaping the culture there. Layoffs may be a part of where you came from but they were not a part of Mutual's history until recently. She focuses so much on DEI and Performance Management while the company is shedding over 200 employees in the last two years. Get your head out of the sand and talk to your employees once in a while. What you care about is not necessarily what's important to them. Pathetic leadership at every turn there. Good luck to Stephen Rich. Good person with integrity. Just hope that's enough to turn things around.
Before I retired, some of us had dinner with the head of IT and he admitted that they absolutely phucked everything up so badly that it wasn't even funny. Moving to OMNi should have been done over a 6-8 year period, not 18 months. Besides, OMNi and FIS are terrible and antiquated systems. Support from FIS is horrific as MoA doesn't want to pay the top level of the service rung for support from them. Don't believe me ? Ask MoA front line employees and their Customer Relationship Managers. They don't have any AX to grind just the unvarnished truth.
Greed, Festog, and Severin were fired. Donaldson was asked to leave, which should have happened much earlier. I bet he had a solid employment contract thanks to Greed. Despite having data that showed his goals weren't cost-effective or beneficial, Donaldson pushed on. He likely had incentives to meet deadlines and didn't care about the mess he left behind.
Greed. Festog. Donaldson and Severin all got fired. The company will be laying off 100 more employees. 75 sales reps. Pension will be frozen. Lump sum option gone. Board and Rich are seeking a buyer for the company. Company has recent cash flow issues. Has lost $1.5B in employer contract terminations this year alone. Projected lost revenue over 10 year period tops $250M !!!!