Any layoffs in July?
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15 let go in Dental Provider Servicing including VP of Dental PS. A handful let go in Network Development in Speciality Benefits. 4 or 5 let go in Vision Network Development. There's even more but the main idea is increasing production while decreasing the workforce and replacing with cheaper labor or just loading that additional work on existing employees.
Non par team, manager and Director was let go on 7/27/23. At 10a, this meeting was added to our calendar, the night before.
They had our entire team dial in and then they told us that all of our roles had been eliminated!!
Just know Once a hiring freeze or traveling is place on a temporary hold, then know it’s because upper upper management is making cuts for their bonuses!!
Witty is wack
What departments?
Laid off this morning .... 8.10.23 end date.
Just laid off today.
MCNA has had several lay offs the past two weeks. Middle/upper management and 24-25’s
CEO & Non-Independent Director recently sold US$2.0m worth of stock
On the 19th of July, Andrew Witty sold around 4k shares on-market at roughly US$506 per share. This transaction amounted to 4.8% of their direct individual holding at the time of the trade.
In the last 3 months, they made an even bigger sale worth US$3.0m.
Andrew has been a net seller over the last 12 months, reducing personal holdings by US$5.0m.
Yep-this week, July 27th and last day 08.03.2023-
Enterprise-wide layoffs this coming week. :(
Lay-off the complainers. They make the work environment toxic.
Yes there will always and continue to be layoffs. Andrew Witty said straight out during this weeks all employee meeting. It is a fact of being a fortune 6 publicly traded company. Just how it works.
After all the execs stock options/bonuses is the #1 priority. RIFs just a band-aid fix to cover up the REAL bottom line. Sacrificial lambs are the workers..
I would expect so for rest of the year. Health Insurers stock has been falling a lot lately. They need to offset the rise in utlitization and med loss ratio. Our earnings report will be very telling but they are going to be cutting expenses further imo. They have to have a plan for wall street.
Go to Optum layoff - latest thread on termination end date of 08.03.23?