Was it due to the change healthcare acquisition and subsequent outage or the mu---r of the CEO? Obviously it was financial reasons, but was curious if you asked and found out why.
I was so mad when I was told that I didn’t ask…I never had a single poor review or discussion about my work not being valued. Hoping you may have some answers. Thank you.
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Optum Senior Care just went through their second round of RIF’s in 9 months, however, their SLT remains in place…WHY?
They lost $110 billion also after CEO was ki-led according to Steve Kopack for NBC News. The article came out Dec 2024.
The California "WARN" notice covered 8 rounds of layoffs from September to January, and this is the last one. It was filed in July 2024. Similar notices in NY and NJ. You can be sure that the layoffs were planned well in advance of BT leaving the company. DOJ objected to the change healthcare purchase because we basically bought a competitor to park them. Then in parking them and spending as little as possible we neglected security, then we proved that we already had technology suited to the purpose of the company by establishing something like a million connections in a month.The stock price went down and cash on hand went down ($22M ransom paid), but I think we're free and clear from that particular specter. It may have something to do with the cloud push, though. Next time we get hacked we can blame the cloud vendor and send them in front of congress.
Even before the rolling layoffs experienced the past 2 years, Q1 of every year Optum will layoff low to mid performers. Essentially an excuse to get rid of your bottom performers and repurpose dollars elsewhere by saying they eliminated the position
CHC employee, everyone on our call
which had 50+ were given the lame excuse they lost so much business they had to make sacrifices and.....you're it! The reason is not that, although they did lose a lot of business because of the Cyber attack, it's because they're giving our jobs to foreigners because they work cheaper and they're unethical and they don't care if they do s* work and the American people get sc--wed over with medical claims. That's the American Corporation way get rid of American jobs and give it to foreigners
Lost 41% of the team. Was told it is because of the business we lost from the hack.
Every qtr there is sacrifice for the numbers. It never ends
Does anyone know how many were affected in this round of layoffs?
From what I understand, HBMC failed as an acquisition and clients are pulling from home base medical.
So UHC owns Optum right? But UHC is trying to buy Amedisys Home Health. The DOJ is actively stepping in to prevent the merger with Amedisys due to a monopoly. In wondering if this is UHC's solution to the monopoly problem with the DOJ.
In Landmark NY, we were told it was because we lost contracts, so we lost money. Yes, we lost contracts at the end of last year, but they were our smallest contracts, we lost a small about of patients! We still have our largest contracts which makes up the majority of our patients. They aren’t telling the truth because it doesn’t make sense.
It's because we're starting year 2 of a 3 year Medicare rate cut and as a company, Optum is completely incapable of increasing bottom line/operating revenue. We say we innovate but really we just terminate people to keep our MLR at 85% and hit our earnings target. When rates go up, we hire more. UNH stock is just a proxy for Medicare reimbursement, and we adjust headcount to manipulate the bottom line since we have no other tricks. In years where reimbursement is good and UHC needs to spend more money to keep MLR at or above 85%, they spend it with Optum, so there's a direct correlation between how UHC earns and how much budget Optum has.
Gotta keep the stock price going up, up, up, forever. It's a race to the bottom with the cost cutting.
What was your position? Im a coder there and in worried a bit.