Things have been quiet but we know budgets are still tight and headwinds are only increasing. Something is definitely brewing. How likely is it that they offer a VSP to push out more expensive employees? I recall a post here from a few months back that mentioned this being a possibility. Any new thoughts?
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Why work and bust your butt if you dont know if you are on the cut list next week or the week after?
I suspect they’ve been paying people to retire early. Our leader left this week.
@1py Because we lost knowledgeable people and kept the dead weight. The numbers needed was deeper than expected, resulting in the need to back fill with more costly contractors, lost productivity, longer resultion of issues, it negatively hit the bottom line. It simply was not the best choice for the company, however the mistake could happen again since it's all new decision makers. This is why we have management cuts now with reorganision--a better solution but still not the best.
@1p5 What makes you think it didn’t go well? More employees than expected took the offer, but the company was prepared to lose everyone on the list. Not everyone meeting the age/ years of service criteria was made eligible.
@1fy Doubtful it will be voluntary, didn't go well last time. Expect reorg, rif and jobs offshore..imo. We can't add 5k new people without equal revenue and expect to continue holding dead weight.
@fe It was actually 55 and 10.
@sp brilliant isn’t it?
@10e Seems like there are differences/ benefits between VSP and layoffs, otherwise why would any company ever offer a VSP. Differences such as short-term vs. longer- term expenses, morale, lawsuits, productivity impacts, tax implications, impact/ lack of certainty of unemployment payments. Actually pretty interesting strategic differences.
@eg - potential for new offices to be opened to accommodate WFH employees to be in office
With all the anticipated financial losses this year, why would the company spend an extra 7 or 8 figures when they can just fire another 500 hundred earners without consequence?
@eg So HCSC expects to run a national presence out of only 4 or 5 legacy states?
I will be very surprised if VSPs are offered again, unless it’s very small scale. In 2016 it was offered to employees at least 50 years old who had a certain number of years of service (10? 20? Dont remember) There were more acceptances than anticipated, resulting in a much greater financial outlay than planned. I don’t see them risking that happening again. RIFs are more financially feasible.
@a2 It is quiet. I wonder if those conveying HealthSpring WFH employees will be the first to hear on any VSP. Company is getting strict on WFH designations and heard that they cannot apply to any in-person positions available. TSA expires in March.
Unlikely. Rumor is the company overspent on the 2016 VSPs, and last week's business plan had plenty of layoff innuendos.
It's going to be a difficult year.