Thread regarding Optum layoffs

The other side of the coin. Who’s making bank here?

I work middle management within the UHG umbrella, and it’s very unclear what the next several days, weeks, months will bring. We are finding out only through the grapevine the extent of who has been let go, but a surprising number of mid to fairly senior folks and no specific logic that is identifiable (both patient facing and admin teams).

What hasn’t been mentioned on here that I have seen is how much money certain senior executives have made (including quite recently!) selling stock. It’s beyond tone deaf when they make millions and rif hundreds of employees weeks later. Publicly available info!

https://simplywall.st/stocks/us/healthcare/nyse-unh/unitedhealth-group/news/have-unitedhealth-group-insiders-been-selling-stock

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| 2661 views | | 8 replies (last August 13, 2023) | Reply
Post ID: @OP+1o4czIfZ

8 replies (most recent on top)

So grateful I moved on last August after almost 10 yrs with Optum, saw the writing on the wall & planned my exit!!

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Post ID: @1mwn+1o4czIfZ

I knew I'd get some pushback when I made my post (I'm the "bullet points poster").

Curious that simply stating two points of fact (the bullet points) and then stating how things would be far better if _everyone_ stopped stereotyping everyone else and adopting an "us vs them" attitude, is then stereotyped as having to come from "leadership".

On the one hand I am flattered, if folks think that my post was a sign of leadership, then I wish I could take it to my leadership and use that to show why I deserve a promotion! But the cold hard reality is that I'm a lowly IC (well, a higher level IC but an IC non the less). Sorry if this derails your villainization of me, but then again, I don't really think it matters, some folks have made up their minds.

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Post ID: @1lqv+1o4czIfZ

@tvf+1o4czIfZ
Yep. They've had shadow IT / Ops for years. Trust me. Everything on the interwebs gets reported back up to his royal highness.

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Post ID: @1goo+1o4czIfZ

This bullet points poster is definitely UHG leadership.

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Post ID: @tvf+1o4czIfZ

DEI = Division, Embezzlement, Incompetence. Prove me wrong.

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Post ID: @oha+1o4czIfZ

While execs exercising options may be considered by some, "tone deaf", let's look at some facts:

  • high level execs only have a few windows where they are legally allowed to sell their stock. the timing of sales tends to be regulated by these windows not so much real time external events (typically two weeks per quarter).
  • even within those windows, they have to file their intent to execute the trade and this has to be done well over a month before their intended selling date, this can sometimes stretch into 6 or even 12 months.

So from the standpoint of the "tone deaf"ness of their trades, for a company that engages in, effectively, rolling layoffs, there is no non "tone deaf" time for an exec to execute. No matter what, it's going to roughly align with some set of layoffs.

It's so easy for everyone to vilify, but when management is criticized for taking actions on employees with minimal information and insightfulness, folks also have a tendency to do the exact same thing, take a few salacious talking points and extrapolate the worse.

NOTHING will improve while EVERYONE is engaged in finger pointing and assuming the worse from everyone else. There needs to be some moral/intellectual foundation to start from, and when we see little progress in countering corruption, it's this lack of foundation that is one of the root causes of the lack of progress.

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Post ID: @cjt+1o4czIfZ

Yup! I hope the media puts the pieces together! I am completely ashamed to say that it took me too long (and too late) to remove the rose colored glasses. It is absolutely laughable Optum/UHG was recognized for its DE&I efforts! I wonder how many impacted fall under this category - I know I did in more than one category and a high performer! So many great employees impacted and the communities we were to serve will also be impacted while "those" continue to line their pockets. US Healthcare is corrupt!

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Post ID: @mdn+1o4czIfZ

Wow!!!

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Post ID: @poo+1o4czIfZ

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