Something big is coming up, all the staff VPs are tensed and doesn’t make sense in town Hall meetings.
Do people in leadership posistions in here have any updates ?
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How do you access the mega thread?
I was on leave & they gave me my notice. What exactly is a R I F? It's a layoff with severance pay.
It is not a severance. It’s “supplemental pay.” And if you get another job they only pay 50% of what’s left.
As stated in the September 21st Megathread:
Lump sum is NOT an option. The only option is bi-weekly on regular paydays.
Is the severance a lump sum payment?
Nov will be new employees selected if the cuts made on this round do not have the desire financial impact!
@8lbs+1oCCYtTZ thank you for your insight — when you say Nov (pending meeting the threshold or not), do you mean notice given in November or last day of impacted associates scheduled for November? like, would this week’s layoffs be considered a September RIF (notice given this week) or October RIF ( impacted employees scheduled to end their employment in October)? thanks i’m advance
Local markets were given a goal to eliminate 20% of their workforce. Some areas saw a 40% reduction in order to keep other areas untouched. Associates upto the Director level were randomly selected to keep the lawsuites at bay. However, from Directors up, they were recommended by local leaders. If you team was affected between 20 to 40% in this round you should be good until next year. However, if your team was not do not wait for the last minute to get an exit strategy. Moreover, Elevance will continue to expand by acquiring other companies, and these companies come with people that maybe cheaper in salary than what they paying you. Right sizing the work force will be a process that will never go away. Lastly, I was rifed too, after they brought me from another market to assist with the rif. The second wave is not in November, or January. The second wave will be dictated by local plans financial performance, and how that amounts to the national plan. It is not the profits. It is the profits for each share holder. As of today, the next Rif is scheduled for NOV, if the numbers are below certain treshhold. Also by eliminating personal you do away with Salaries, benefits, Bonuses and stock options. It is not just the employee is the financial impact of each person. The goal is 20% of the workforce to make margins work. Title changes and re organization will be the new theme in upcoming months. I hope this helps.
Just interring that my mother has been an OUTSTANDING employee for the company for 21 years. Then, the week after she turns 60, she’s let go. And the ONLY one of her team whose position was eliminated. Is this even legal?
Reorgs/RIF defines payers. I was RIF'd today after getting a positive review and pay raise I didn't ask for a few months ago and could not tie to any work I did. Prior to this place, I worked at 2 other payers -- 1 where I had 7 reorgs in 3 years with the first happening a month into the job and saw them RIF long term employees only to hire them back as contractors, and another where I had a reorg on my first day before I went through orientation and a second a few months later.
Anthem may say layoffs are due to oncoming recession, yet Anthem is still committed to raising shareholder dividends and stock buybacks.
"We expect full year share repurchases of approximately $2 billion"
"our Board of Directors recently approved a 16% increase in our regular quarterly dividend to $1.48 per share, our 12th consecutive annual increase"
It's not about an adjustment to oncoming economic downturn...
It's Greedflation!
I heard 1800 associates total were let go.
Gail really cares eye roll with her 20.9 million salary earned last year. The job board speaks for itself on what Gail wants… everything is going overseas.
100 of us lost our jobs GBD in one day. November 2nd Wave. No one is safe, title changes to come in 30 days.
@6zum+1oCCYtTZ Why would they? We're just chattel to them.
Wow
Staff VP cannot even get a managers name correct when announcing their position was eliminated. Unbelievable.
@6efu+1oCCYtTZ Go to the mega thread. Seems to be a lot of GBD at the moment. Just remember, today isn’t the bed of it. I fully expect there to be a lot more by end of year.
Any hints on what areas?
Can confirm. Some people in my department got let go.
People are losing their jobs and careers today stop the bs about this being only rumors or noise.
See “September Mega thread” posts for more info
All this noise...?
@@5zzi+1oCCYtTZ.. hello severance is not off the table if you say retirement. You don't have to take anything out of you're retirement, but the package is handled differently. If your eligible you will get a retirement gift to choose ( 5 year increments) and the payout is different and unemployment benefits once the severance runs out. It's how Anthem communicates to the unemployment office. I've been here long enough to know this insider information. Not to mention if you can take sick time all of that goes into Elevance pocket..
@6hgl+1oCCYtTZ. Not a rumor. Go to the mega thread.RIFs have started in eastern time zone. Still early in the West so it will likely be an all day event.
Looks like a rumor? If so messed up . Nothing - no one knows anything
Alls quiet on the western front ..
Any news from people with the meetings? So far no news
Been an emotional day getting the invite at 830 this morning for a meeting in the afternoon tomorrow. Now 130 AM as if I could sleep knowing the call is tomorrow. Single and 50+ just where I want to be in life. Unemployed. First time since I was 14 years old. Good luck to all getting the RIF. I hope you truly find something better and all this is a blessing in disguise. Totally Disappointed. This is where all my hard work has landed me.
I'm a frontline worker caring directly for patients on a daily basis and I am getting cut. Never would I imagine it would ever come to this. Best of luck to all the survivors.
May seem counter intuitive, but give an H-1B a raise to stop companies from exploiting migrant workers.
https://www.epi.org/blog/tech-and-outsourcing-companies-continue-to-exploit-the-h-1b-visa-program-at-a-time-of-mass-layoffs-the-top-30-h-1b-employers-hired-34000-new-h-1b-workers-in-2022-and-laid-off-at-least-85000-workers/
What if there are many H1-B visa workers with the same title as ours?
Those that received a meeting invite are probably safe. That is how it happened last time. The nonimpacted people were invited.
Don't think people who got the 15 minute meeting invite are necessarily going to say what area they work in as it would be relatively easy to then identify who posted the info.
For those getting the invite to the 15 minute meeting, my heart breaks for you. No matter how evil and awful we think this place is, we all work our as--s off for a paycheck our families depend on. So I hope wherever you land next is a much better place where hard work is actually rewarded.
For those left behind, my condolences as someone is going to have to pick up the work of those 5000+ associates being RIF'd.
I know it su-ks to get these invites, but it would be helpful to let us know what area of business you are in as well.
Got the 15 mins slot for the 9/21 boot!
I got the 5pm random blank team meeting. Then 2 of us got 15 min meetings in the morning. This is my 4th RIF in over 25 years with the company. I would worry about it except I always have ended up better off. Why should this be any different?
Large RIF's do not get a personal touch. The one in June was done in groups with HR on the call. We were told we would be emailed our package and then part of an even bigger call to ask questions about the package. You will have to sign a document stating you want Elevance to find you another internal job which will be within a certain percentage of your current pay. If you do sign it, most likely you will be hired but if you decline the position you forfeit the severance. If you don't sign it, you will not be hired for any Elevance position. You get blacklisted.
Mark my words: All this offshoring will boomerang back and we'll pay the price for doing it.
Tomorrow is the day everyone so stop what you are doing and know it does not matter to this CEO who wants to replace you with offshore 20 cents on the dollar associates. Quiet Quitting finally came home.