Q2 Results = More Layoffs

For those of us that were part of the last round of Optum layoffs on 6/17, you have to love this comment, taken from the Star Tribune article on UHG/Optum's Q2 results:

"Earnings from operations at UnitedHealthcare jumped from $2.6 billion in the year-ago quarter to $7 billion during the three-month period ending June 30. The profit margin at the health insurance business was about 14%, compared with about 5% in the year-ago quarter.
UnitedHealth Group is Minnesota's largest company by revenue, with more than 320,000 employees worldwide.
"We maintained our full workforce," Wichmann said. "Nobody has been laid off or furloughed or dismissed because of COVID-19." "

Thanks for that Dave. Meanwhile, we are 18 months into the 24 month "Growth" review w/ Mckinsey, which is the braintrust behind the staff reductions.

So happy to hear that no one was laid off because of COVID-19, just a host of other reasons we won't admit to the Public.

For those still there, watch out. More rounds coming in September and December.

Just remember, Growth (stock price), Growth (stock price), Growth!

Just like the DotCom companies in 2000, Senior Leaders addicted to that stock price runup.

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They moved all their help desk people to offshore management. So eventually as US employee move out or up it will be much easier to back fill with techs from the phillipines.
Wonder how legal it is for a offshore worker to assist a pc user who works Medicare/medicad issues..........

I have noticed a lot of internal struggles between departments. Lately it seems like it is department vs. department in a free-for-all. I wonder if somehow, managers are being encouraged to find faults for other departments to help UHC to collect data on who is preforming well and who isn't to justify future RIFs. Pay attention to what is going within your organization and less of what is being said. This isn't means to spread paranoia but there is often signs before a RIF.

This company is corrupt and will s— out as much profit as they can before the economy tanks.

https://www.startribune.com/unitedhealth-profit-doubles-to-6-6-billion-with-covid-19-slowdown/571774122/

As a shareholder I like that as an employee that may be on the chopping block not so much.

Thread regarding Optum layoffs

Q2 Results = More Layoffs

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