If the rumors are true, not only will there be a major reorg with entire teams vanishing, but massive layoffs across the board too. Oh well, it’s not like I ever thought my job here was secure, and I don’t like it enough to be upset about losing it anyway.
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Does anyone have proof of any layoffs that occurred offshore? Lots beleive it’s strictly US targets but does any proof exist this is in fact true? Here Warn acts are often avoided for onshore RIFs and no laws require posting or announcing offshore layoffs here or there.
You nailed it! United Health and Optum are totally sc--wed. Take the severance and celebrate you are no longer employed by this he-l hole that is now an India base company, run solely to profit shareholders over customers health needs. We are not here to build a better healthcare system, we are here to destroy it and while doing so help as few people as possible so we can make bigger profits for the shareholders. Sad
@dm The only thing that keeps me from end-it-all depression is the fact that the powers that be have so badly missed the mark on lobbying the party and executive in power. That and blowing so much money. Money that could have gone to executive bonuses or 32+ vanity hires to return favors to friends.
It brings SO MUCH JOY to know that of everything that happens THIS rejection must pain SH to the core. Destroying tens of thousands of American families' livelihoods through RIFs and bringing stress and even death to millions of Americans' via healthcare... Nothing.
Failing to read the room and getting no love from perceived "peers" in power? THAT stings. Merry Christmas SH and may your priest deny communion for harming so many.
@c8 100% DJIA is a major crutch here. Indexed tickers, especially S&P500 companies definitely get an artificial boost.
We are also doing MASSIVE PR spend - just check the financial articles about UNH that keep getting regurgitated with refreshed print dates. A non-AI/non-paid article finally came out about recent UHG/Optum layoffs and it's very quickly buried by paid repostings of AI slop articles about how UHG is undervalued, the future is SOOOOO bright and it's a screaming buy.
At least if we shifted dollars from the fools in the lobbying office to paid media it's a step in the right direction. I don't even know how many of hundreds of RIFed people are needed to cover the dozens of 32+/SLT IC's in lobbying and "policy" these days.
In MN, UCare collapsed and Medica appears to be next. Too many retirees with deferred medical care in a country with minimal birth rates.
UHG paid Trump a ton of money to host the inauguration and also last weekend to host a Golf Channel event at his course. His response? Called UHG a monster company and everyone of us working here soulless drones and not really humans. This is the “pro business” party mind you, so expect far worse in 2029.
While UHGs fall will be spectacular, it will just be loudest. A lot of the nonprofit insurance companies as the aforementioned are dying.
If you want a stable long term career go into finance if you aren’t in tech, elsewise go into big tech. Health and healthcare are dead ends and no one in Congress or WH has the fortitude to address the problem, because the financial pain in admitting the farce has ended will mean voter backlash.
@bg while I know this is true, UHG is likely going to post another massive profit for 2025. Maybe not as massive as 2023 but still it’s not like we’re cutting costs because we’re going out of business. It’s just appeasing shareholders at the cost of destroying your company long term.
@bg the only thing holding up this stock is that it’s still part of the DJIA index. This means automatic demand from 401k/retirement plan purchases. Active managed funds have been dumping the stock all year.
As for 2028 - not sure it will matter who is in office. The US is facing a shift in their ability to borrow/spend. Thus corporate influence is fading and they have, like sheep, moved to the cloud ….. that sets them up for centralized governance. The US government will begin to assert more China like influence/control over corporate decision making. Look at the Nvidia H200 chip sale - US government taking 25%.
As for all this offshoring/visa, India has Great Britain to thank for this not themselves. They are no match for China - their influence on US government/corporations will fade.
This company officially went kaput when its stock price (and market cap) tanked by half in less than 4 months. It was on its way there long ago but the stock price tanking is when investors made it real. There isnt a single fortune top 50 company that has ever survived this type of devaluation and returned to its original self. This was mostly all organic, no external market conditions, just a long list of bad decisions with pervasive bad management and poor leadership.
What to expect: the caretaker CEO and the board have their job cut out, shore up investor confidence so the stock doesnt fall even more and ride it out till a more favorable government takes over in 2028. Till then its all about staying afloat, this means cutting costs by offshoring, selling parts of the business and asset liquidation. Its a losing proposition,but its the only way out till 2028. This means every week and every month, folks will be rifd, reorgs will be done weekly and the revolving chair of leaders will revolve even faster. Dont expect decisions to make sense, thats not how we got here and its foolish to expect it now. So be mentally prepared and dont be depressed if you do get rifd, you know what to expect.
@af but don’t worry, Optum still has funding for Optum Golf. So glad that’s part of the mission to make healthcare better for everyone. :/
Many large companies are planning mass layoffs Q1 of calendar year. Chickens coming home to roost with “AI” and finally needing to cut costs or raise prices with tariff taxes.