Has anyone looked at the job openings? Why are some departments hiring? These are internal jobs. People have asked to be laid off and have been told no? Why can't the ones asking to be laid off be let go? Non of this seems rational. Cordani and Evanko should be the first to go that right there would save this company about a 100 MIllion.
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They’ve been laying off since June 2023. They like the small 50 here 50 there type every month without triggering WARN notice. It’s funny when you are in a meeting and someone says hey Brin you get that thing done. Oh Brian was let go 6 weeks ago lol. No one knew. They don’t even send out notices and bosses hide it from you. Now you have ai and outsourcing push ramped up and a new leader focused out cutting things to the bone with zero respect for employees. What do you thinks gonna happen?
@dt thanks for sharing the roadmap. Any idea who will buy EviCore, or just spinoff as an independent company? Will they layoff/VRP more before the separation?
IMHO:
As the company continues to downsize, the small lay-offs will continue to happen and fly under the state's notification thresholds and thus not get picked up by PR newswires. As we get into the mid-year B2B 2027/28 sales season, they want to project a image of stability and financial strenth. Ongoing large scale layoffs that would suggest an unstable investement by businesses looking to keep or switch to Cigna's plans, so the next big round will be done mid Q1 2027 with everyone affected out the door by end of Q2 (April). The trick is to increase the short term profitability without those sweet b2c government payouts / rebates they were getting and maintaining the b2b health insurance business.
Most of IT is gone to India, Medicare got sold, IFP/Dental will be sent to TPA's to wind down and those who support that business will be let go (not many left so it will be under the radar). Evicore will be sold, as will the dr-g business to reduce regulatory risks. As a smaller company, look for them to outsource alot of the plan administration to AI and TPA's because the overhead isn't worth it for a smaller corporation. My hunch is that these will be the next big round announced. Again the profits will be high in 2027. Once the costs of this re-org have been paid down in 2028-29, profits will level off and they will do another round of expansion or sell the whole thing.
I would bet on a medium round this fall with another round of VRP offers that take effect in February or March ‘27.
And another large layoff in February with April 30 as the termination date.
And there will obviously be small targeted layoffs every month.
Scotland got hit with 193 redundancies yesterday
I think more unofficial layoffs are coming