State Farm is one of the largest private companies in the world, so it is extremely well capitalized. They still offer a pension and until recently this was a very nice place to work.
They realized that they are too big and slow to keep up, so they are mass shedding talent in a really short-sighted manner. Focusing on "lean" and not on people so they are losing top performers and only keeping people who are: cheap, inexperienced, have no other job options.
I think even after the mass restructure, State Farm will still be too slow and conservative to keep up with the changing industry.
Pension, 401k, good salary, good benefits