I guess we nervously await round 2 in December? How can we work like this?
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@e1 thank you for this response.
@e1 from who I know was let go including myself it’s not all high compensation
These layoffs were strategic before Q4. If anything, it would be Q1 next.
@dg
When two entities merge, the smaller one usually gets rifs. My coworkers assumed this as that seems like the prevailing operating procedure in corporate America. we assumed the majority of the rifs would be on cignas side.
I doubt the c-suite thought the losses would be this bad. if so, why did they not plan the rif better? Also, the timing of the RIF, a week before the end of 3rd quarter makes it suspect. Also, those that were chosen - why was it not better thought out? Those that got riffed seemed to have one major common aspect - high compensation. Skill and contribution seemed to be just an after thought.
those that did get riffed, severence and benefits were reduced (according to rumors) which obviously points to budget concerns.
Communication to FE is sparce and those that were sent were "seemingly rush as if written by chatgpt". If hcsc were prepared for these losses, they would have had time to formulate a better response, better communication, etc. none of that happened. nothing was prepared.
Therefore, there can be two explanations: hcscs is an evil company that likes to antagonize its employees; leadership is psychopathic by implying one thing, but knowing its false. OR they just got blindsided.
I like the idea: "dont attribute to malice something that can be attributed to incompetence"
oh, one more thing. If upper management knew how bad the merger was going to be, why did they give us record bonuses in March?
Everything is pointing to the idea they did not know how bad things would get.
just my theory... so please dont get mad or offended.
@c4 I think everyone was aware that there would be cuts when the merger happened, it's the nature of a merger. Cuts are the results of many mergers and I don't know many folks who weren't expecting them sometime in the next two years.
Medicare is a volume based profit generator. You have to find efficiencies to make money and this probably has more to do with getting a foothold in states for BlueBid than it did revenue itself. Guaranteed everyone on the c suite knew there would be a period of as they aligned the company to move forward and afford the cost of the merger, hence the PTO changes last year.
I think upper management was blindsided by the losses incurred by the merger. Last weeks rifs are the result. The gravity of the financial situation caused leadership to do this hastily.
Also, if a consulting firm did help with choosing the candidates for dismissal, they were involved only quite recently but I doubt any firm helped out. the sloppiness and haphazardness makes me conclude this.
Hcsc was just looking for money to save before end of 3rd quarter financialreporting. Performance was just put on the backburner or marginally factored in. Compensation and if current HR thought the FE could be replaced without causing too much disruption, they were prime candidates. Going through direct reports and looking at reviews, etc would have taken too long.
I dont think there will be anymore RIFS. If so, why not do it sooner? I think HCSC is NOT saying "no more rifs" just in case something comes up. Like for example they did their math wrong. Upper management seems to not have their stuff together.
So yeah, chances of more rifs this year 10%.
LinkedIn has been a huge asset for me. It’s what got me my gig that made me leave HCSC. Have your skills updated and your resume updated and your “open to work”’ status on (just for recruiters if you’re still employed) and you’ll likely hear from somebody.
It doesn't appear performance was related to these layoffs, but people should always be updating resumes and reaching out to recruiters and contacts, especially when employed.
Show up. Do your job well. And keep your skills and your resume up to date, while casually applying for other jobs. It should be everyone’s standard operating mode.
The people who have nothing better to do than worry if they’re next probably are.
Get a plan B! Start looking for another job if you fear that you might be among those laid off in the next round.
Where are you getting December from?