If you’re willing to do so, post the results of your day here. Ironically, might be beneficial to see you’re not alone and how wide the impact has been felt. I know that’s what I’ll be looking for after my 15min call at 2:30. Best wishes to all.
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Anything coming down for digital teams? How is AI going to do our jobs?
What organization and team?
3 managers voluntold for early retirement
I’m ready for Gail to have to walk the plank
3 managers voluntold for early retirement
My heart goes out to all those impacted. No one is safe!!! They should be trimming the fat from the top!!!
Any Nurse Case managers affected?
They fired someone who had worked here for years, but I'm worried that they will now give all of his tasks to already overwhelmed people (me).
@ggk+1oIvGzm1 The requirement to use a corporate email address and verify it is the reason I don't.
why dont we use blind?
RIF'd after 22 years of service. Canned meeting just like all of you.
We lost a few peers and leaders. Some of whom were amazing! So sorry to see them go. It was gut wrenching. Having been on both sides at any given time, ugh
Everybody see that email that just came talking about realignment in the GBD and CSBD but nothing about all the RIFd associates affected today. I like how they made sure to let us know the million dollar executives are ok and just shuffling around a little. Evilance su-ks.
What email?
GBD/CA - Sales Support - camera off, meeting was with SVP - touch base scheduled for a 1/2 hour, HR was on the phone, was given today and tomorrow off and told what to post on my OOO, Severance was 4 weeks, plus 1.5 weeks for each year completed, manager wasn't on call and didn't say BOO, I know there were other calls scheduled for those who survived
Thank God the executives are OK. I was worried for a minute....:0
Everybody see that email that just came talking about realignment in the GBD and CSBD but nothing about all the RIFd associates affected today. I like how they made sure to let us know the million dollar executives are ok and just shuffling around a little. Evilance su-ks.
Ask GBD leadership how much was paid to acquire the ever shrinking business at MMM of Puerto Rico? Whose brilliant idea was that?
How many billions were spent/lost to acquire a business barred from enrolling new members by CMS for not spending at least 85% of premium on care.
MMM earnings down >40% since acquisition. The loss of expected earnings from a much exaggerated diligence model at play in the RIF decision.
Nobody talks about failed acquisitions (MMM, Beacon, etc) & misspent capital - those giant mistakes are washed clean in the RIF machine. Wouldn’t need to worry so much about overblown admin if not for throwing billions in the trash on bad acquisitions. Nothing like buying membership to show growth, only to lose money once integrated to the operational disfunction.
How much has been paid to McKinsey this year?
Just got RIFFED!!! Manager changed by 1x1 from Monday next week to today. Manager came on the phone. Staff VP cane on and said they were doing reorganize. HR came on next and told me about the benefits. I was not surprised at all. Thanks to all the beautiful people here who keep us in the loop. I got 30 day notice by the way.
Does anyone know which specific departments in GBD that are effected?
I have said this for years ( I was riffed years ago and came back) your tenure is your target. No longer is it something to be proud about.
Is this impacting health plan operations?
During the second quarter of 2023, Elevance repurchased 1.4 million shares of its common stock for $646 million, at a weighted average price of $457.34 per share.
If you need to save $1b annually, start by NOT buying hundreds of millions of your own shares (execs tell you it signals confidence & they’re betting on themselves to grow).
It’s only needed to artificially manipulate EPS (earnings per share), by taking shares out of the market, while the top line declines EPS keeps growing (just managing the denominator). Phony way of showing earnings growth per share, not organic growth.
You’ve bern RIF’d because execs have ridiculous growth obligations they cannot meet & must spend capital on stock repurchases instead of investing in human capital. It’s for their own survival. If EPS falls, stock price takes a hit, and execs disappear.
So better you than them, so they say.
Which all teams are impacted by the layoffs in CSBD
Working here is like sitting at the Kiddie table at Thanksgiving. I wanna eat with the grown ups.
While you experience this decision making, please go look at Elevance executive compensation published online in the Annual Report:
https://www.ezodproxy.com/elevancehealth/2023/proxy/HTML1/elevance_health-proxy2023_0059.htm?r22#2
Annual Compensation -
Gail Boudreaux $20.9m**
John Gallina $7.6m
Peter Haytaian $6.4m
Gloria McCarthy $6.4m
Felicia Norwood $6.4m*
*head of GBD with a 20% RIF
**CEO Pay Ratio 383:1 (total comp as percentage of median employee salary)
So median employee is $55k
Make sense yet?
My heart goes out to you all of you. I've been around here long enough , I can offer an Ear, a shoulder, answer questions offer whatever advice knowledge I know, send hugs to those who still accept them. to help anyone who is going through this, as it's hard mentally, emotionally, financially and messes with your soul. Wish there was more I can do. Blessings 🙏🙏
I foresee the same; in my head it looks like Ready Player One, only with I, Robot type overlords.
@njo+1oIvGzm1 It’s not just this place. With AI coming on and more jobs being pushed offshore, the country is going to be in a really bad spot in the coming years. I am fully expecting my job to be take by AI sooner rather than later. This will become the norm and jobs are going to become more and more automated.
I'm going to continue my external job search. This has been a major wake-up call. If it's not now, it will happen within the next 6-12 months. I don't feel safe here at all.
Just got off a call with my team and only 1 was let go and given 30 days notice.
I'm the lucky anomaly. My heart goes out to all those that were RIF'd today. My manager scheduled an immediate 30 min meeting this morning and turned out I am re-org'd.
My MIT position eliminated along with my teammates. Told their will be Manager positions to apply for. Bullsh-t cold uncaring call.
Senior Leadership is absolute garbage. Been here for 15+ years, and this is the biggest RIF wave. 50% of my department GONE with the first wave. Let's just get rid of the high performing teams so we can outsource everything. Great Job MMQ....you should have never been hired here. This company used to be one of the greatest places to work. You're getting rid of the good people who actually care about our members, customers and our co-workers. GET IT TOGETHER ANTHEM!
Does anyone know if Health Outcomes Organization division will be affected?
RIF happening in two waves. One in Oct and one Nov, approx 5k employees in each wave. 20% of GBD will be eliminated. Goal is achieve $1billion of administrative savings needed to fund the shift to A.I. That’s the story line for the Street. Removing people to automate their jobs and improve scalability.
Employees impacted today were told to stay out of the media or it can affect your severance package. Must sign a release to get the package.
How many meetings were you invited too?
5 people in GBD Benefits Center of Excellence let go this morning. 4 effective immediately and 1 got 30 days notice.
@maf+1oIvGzm1 The breakup call will be perfunctory; you'll get general information and they'll get off the line as fast as possible. You'll receive additional info from HR later, and they'll likely pull together a big meeting later to address questions for everyone they're riffing today. (All pretty gross.)
At least, this is how it went down when several of my buddies were among a large rif last fall.
My heart goes out to those who have already went through the breakup call. My 15 mins of shame is coming up in a couple of hours (PST). What are some important questions to ask HR? Off the top of my head, I'm worried about health insurance coverage end date/Cobra, how to do 401k rollovers, how to apply for unemployment, etc.
GBD IT Norfolk
Please give a hint on area or region something all on edge of seat