While I understand the frustrations of people working here and the need to vent, there is just a lot of the same things that are conveyed here about RTO, how horrible the company is, etc. I’m looking for layoff news - seems like that has gotten lost in the shuffle. Or is it that no one knows future layoff or reorganization plans because SLT has caught on?
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The overall economy is grinding to a halt due to poor leadership. The economy shrank in Q1 2025 even more than previously thought. We will have billions of dollars leaving the healthcare industry in the next two years and approximately 10 million people or more losing their health insurance. Elevance had a RIF today in the FEP area due to all of the layoffs at the federal level. This will trickle down quickly in the next several months. The ACA tax credits are ending this year and these people who lost their jobs will now have to pay 75% more for health insurance. There isn't any good news in the near future for Elevance with the economy in the shape it is in. Health insurance is quickly returning to a time when it was considered a luxury to have.
Membership and Profitable Membership are 2 different things - giving away buy ups to get #, ignoring policies and paying for procedures for high profile account executives -the list goes on. MK is well past his expiration date along with Gail
As they say in soccer, #GailOut
To those that like talking about the stock, it is currently sitting at $304 this morning, down $40 a share today. Just last early September, it was $562. That is a 54% drop in 10 1/2 months.
So while some may say Gail and her team have done great in growing the company and increasing the stock since she took over (see numbers in a post below), it is inexcusable to see the reversal of what we are seeing in less than a year of time.
Plus, they decreased their earning guidance this morning. So, expect even a greater amount of lay-offs.
I know the industry as a whole is struggling, but this leadership team has a lot to be desired.
@ds+1k0a503hv Agreed! Exactly -- next layoff should be C-Suite. Not providing good service to members, employee morale all time low, and now even the investors have been let down (let down by 11% today!). Only people doing well associated with ELV are the top executives, who are living like gilded age robber barons. Disgusting! New lows!
The board of directors should lay off Gail. She’s supposed to support shareholders and she’s done terribly. We traded around 235 when she took over and we trade around 310 now. 30% growth in 8 years? I think a monkey could have achieved that level of growth!
You are not hearing about “layoffs” because the 7/15 RTO date IS the layoff,(as many have already mentioned here). But with this “RTO layoff”, it’s a new version is layoffs — employees are voluntary quitting and the company doesn’t have to pay the severance and benefits, so the company saves a ton of money.
Once the company determines how much money they got back from the people leaders who quit, then they will decide next steps. If they don’t get enough money, my guess is we will see another big layoff or return more of us 3x week for another RTO layoff. We are all just dollars. It’s not the same company I started out 20+ years ago. I genuinely wish there was a way we could vote out the SLT and bring in fresh leaders who show real leadership skills and are not clearly out for themselves.
And this is just my own theory about the company layoffs …
This company lays off every month. Most of them are too small to gain wide notice and as such, aren't disclosed here because it could be easy for leadership to narrow down who is sharing the info. As such, only the big ones are usually reported here.
There will be one this month, for instance, but it likely wont impact many.
@a6 Nope, not really! You could be the part of the sneaky leadership team trying to find out what we know. And the fact that you came back with the smart/snide post tells me you are probably one of them...we see you!!
I get what you are saying in this post and historically this site has been a very good source for that. Recently, this site has become an outlet for us employees to commiserate about some of the stuff going on at elevance and in my opinion, that's needed. What we shouldn't overlook is the fact that we haven't had a major layoff in a few months. God willing we won't have another one for a few more months.
However, when one is on the radar we know that we have some great co-workers who will give us reliable information on this site . So for now we should all just enjoy the layoff silence and keep hammering on all the other stuff that's going on.
This is only a foreshadowing. Stock is at 336. A share. Slightly higher than 52 week low I.e 336 a share. That is not a good bellwether for the future. Make of it what you will.
Womp womp
@ab No they are not. They are having managers go into the office three days a week. How hard is that???
@OP- I agree- I'm here to get layoff information, not to hear complaints, we all have them, there's no new ground being broken on these. It's great to vent, but you have to sift through a lot to get useful info!
RTO is related to layoffs. Leadership/executives are forcing 'certain' people back into the office to get them to quit so they don't have to pay out supp by having to rif them. The many secret 'exceptions' is what makes me sick to my stomach. So, the two topics are very intertwined. Besides, either way, we are getting site visits and page clicks for the owners of this website, so who cares. :)
SLT has long been hip to this site.
@a3 and @a5 I don’t see where I’m complaining. I’m asking if anyone has layoff news, but okay. Also in response to ‘be the change you want to see’ - if I shared anything positive on here to be that change I would get shot down, so it doesn’t really feel like a win situation. Anyhow, thanks for everyone’s feedback. If I have layoff news to share, I will def do so to help others. Otherwise I’ll check in every 2-3 weeks.
@a1 if I had it I would share it wouldn’t I.
@OP Thanks for your post on the layoff site that shares no information about layoffs but complains about posts on the layoff site that don't address layoffs.
Be the change you want to see in the world instead of chiding others.
@OP Do you have any information to share regarding upcoming layoffs?