Thread regarding HCSC (Health Care Service Corporation) layoffs

@OP This was such an informative post; curious if any new insight is available?

@37f Talk about useless. 3 paragraphs of der duh-der.

@28j yes

@37f that you Paul?

This was a useless and irresponsible post. I could have written this, WITHOUT any organizational or leadership “insights”. There is no actionable information provided and providing this is not good for the broader organization, making you a bad corporate citizen, and it does nothing but cause anxiety and panic amongst the team members who read it, making you a bad citizen amongst your employment peers.

If you wanted to obfuscate your identity in order to provide real information then run your post through AI to remove communication tells so people gain real insights.

The benefit is no less than, “there were layoffs and will probably be more (logically), you might want to update your resume and start looking.” That’s it. Your post is just that. One sentence would have covered it.

@35y Another great decision by professor slavin.

@27q Yep they did update PTO in favor for IL and MT. They sc--wed the TX, NM and OK plans with leaving a 16 hour carryover

Any word on voluntary layoff

@147 Did someone on Maurice's team write this response

@OP do you have any updates ? any word on what the pending pto change is that is supposedly coming ? for how many meetings are happening daily there remains a lack of updates to the ones at the bottom, not surprised as it seems to be a wait and see game

At the recent HCSC 4 PM (Portfolio, Program, Project…) Townhall, someone asked some good questions - 1. Are more layoffs coming? 2. How many people were impacted in last round?
The answers from Leadership were - 1. We don’t know, the company will never say this (taking this as - “more layoffs can happen again as needed” when the company thinks so), 2. We don’t know.
The restructuring across orgs, including EPMO still continues…

@15m I thought it was Voluntary Separation Package, but same difference

@147 in the context of this thread, it definitely means voluntary severance package.

Nobody is giving up their job for the offer of a sh---y vision plan.

@fj VSP (Vision Service Plan) is a third-party administrator that provides vision care services on behalf of Blue Cross and Blue Shield of Alabama (BCBSAL) under the Vision Blue plan.
VSP handles credentialing, quality management, claims processing, complaints and grievances, and customer service for BCBSAL members.
The Vision Blue plan, powered by VSP Vision Care, offers members access to a nationwide network of eye care providers, helping them receive convenient, quality eye care with low out-of-pocket costs.

@110 Why on earth are you still following layoff news at a company you left 8 years ago? It sure doesn’t sound like you’ve moved on.

@110 Yep. I couldn’t afford it then. Glad for those who could. Have another plan, or make one now. Best of luck to everybody. They don’t care about anybody. Never have. Never will.

@OP great to see absolutely nothing has changed since the great VSP of 2017. Best thing I ever "volunteered" for. People, there is life after HCSC. Tenure in any number of years remains meaningless. Run!!!

So what is the next move for the band of butt clowns and his court jester? Will there be ANY meaningful change in leadership? Of just more cuts for the worker bees?

@ft You're wrong. He makes much more than other CEOs even when you look at the total package.

For what.

@OP The idea that Maurice is a mediator is hilarious. I have never seen an executive more afraid of his own shadow and more insistent on remuneration for nothing than Maurice Smith. His approach is malpractice.

An absolute dipsh-t of a leader.

@cy are you mentally unwell? Go to a doctor stat! Your brain is clearly being toasted by the fever that is causing you to type id--tic comments.

@gb lol you think they care? What makes you think they are going to listen now? People have been voicing their concerns for YEARS! Wake up!

Had a long email but decided against it because it would go on a deaf ear from a single entity. However, assuming executives are reading this? Maybe we can all use this to tell what isn't asked in the ignored surveys. I will go first:

1. Fix the culture, remove the fear and simplify the business processes.
2. Put the IT budget closer to 7% of revenue like other fortune 100 companies and you would not be in these situations.
3. Fix the bad choices in vendor products, spend the money, don't go cheapest. You are paying more in the long run.

@OP come on...why are so many defending Maurice...? "its because of Washington", "Maurice was trying to help...", and other. Why?!? He has been in charge ever since the downturn of the org financially and other. Under his tenure he effectively changed the culture. This whole thing stinks to high heaven. I saw it start when senior leadership was blaming line management for poor Blue Pulse surveys when all were saying dissatisfaction was due to senior management decisions. Get out if you can...it is not going to change current trajectory until there is big changes at the c suite level. Not promising thought since Maurice is also chairman of the board.

@ft keep in mind - you will never know with Maurice. The reason HCSC stays private is because all the comp options he has does not have to be reported on. While those other publicly traded insurance companies, that salary more than likely includes their total comp which all has to be reported…publicly. He’s making more by far.

Are they done? I’ve heard no more today but who knows.

Several of the reductions were folks involved with strategy at a leadership level. Some were surprises. But it looks like at the director level they targeted those that were far removed from projects.

@dp keep in mind HCSC has no shares. There are no options to be handed out to Maurice. I'd wager those other CEOs you've listed get plenty of options or things other than pay and bonuses. Their total compensation is probably somewhere near Maurice's.

@fj voluntary separation package

@bk What is a VSP?

@ff Yes, God is in control. Sending prayers to everyone.

Poor Maurice. Not even a million a week

@OP Only an incompetent CEO would have gotten us here in the first place. Complete trash the way this has been handled. That's on everyone at the board and SLT levels.

@df Maurice Smith – HCSC (Blue Cross IL, TX, NM, OK, MT): More than $40 million

Andrew Witty – UnitedHealth Group: $26.34 million (fired)

David Cordani – Cigna Group: $23.25 million

Joseph Zubretsky – Molina Healthcare: $21.94 million

Karen S. Lynch – CVS Health (Aetna) (2023): $21.6 million

Sarah London – Centene: $20.6 million

Gail Boudreaux – Elevance Health (Anthem) (2023): $20.55 million

David Joyner – CVS Health (Aetna) (2024): $17.81 million

Daniel Loepp – BCBS Michigan (2023): $13.9 million

Dana Erickson – BCBS Minnesota: $4.25 million

That’s an extraordinary amount of money for CEOs running companies that profit largely through government mandates rather than genuine free-market competition.

https://www.linkedin.com/posts/dutchrojas_top-10-highest-paid-health-insurance-ceos-activity-7355559494208180225-V4fc?utm_source=share&utm_medium=member_ios&rcm=ACoAAACyFcsBZ8JcsDslVrsTQz0TcwWqK31N26w

Guess who is number one on the list with number 2 trailing far behind.

@d3 and just remember- as a mutual company - it’s all cash!!!!

@OP Maurice earned over $43 million. That doesn't include his bonus. Just saying.

@cy You seem nice.

@cc Could you please share how much severance they gave you? TY

@bw How many years of service did you have?