Thread regarding Optum layoffs

This is largely in response to the CMS reimbursement cuts starting in 2024. The net effect to UHG is in the billions per year, bottom line not top line. UHG went all in on Medicare Advantage, a big risk since CMS can unilaterally change reimbursement.

Executive’s won’t be happy until WALL-E is non-fiction.

I hate to say this (cause it will eventually affect my job as well) but they don't need you cause now more and more companies are using AI (Artificial Intelligence) especially for routine jobs. And they are able to work 24/7, making the company more money (strong revenue and profit growth in the quarter) with zero complaints from a computer system compared to a human being.
Just look what's happening when you call customer service or online help. You don't a live human being, you get a robot or a chatbot. And as more companies start to adapt to using AI, you will continue to see more layoffs and perhaps an increase in profits in the short-term (since people still have savings to buy the healthcare service/insurance). But as more and more people lose their jobs and run out of savings, they will not be able to afford insurance/services from UnitedHealth (or other costly insurance) causing the profits and revenues of companies to decrease. More people will start to rely on government funds to get by on a daily basis just to feed themselves or get health service.
You can already see the effect AI is having and it's just at it's infancy. As more and more companies start to adapt to it by fully integrating it within their systems, you will continue to see increasing layoffs.
The world needs to start coming up with regulations before it starts affecting many people causing a further divide between the rich and poor. I don't think there will even be a middle class in the future. You're going to be either rich or poor. And majority of us will probably fall into the poor category.
I worry about the future of the world and humans beings. We need to slow down and think about what we are doing. We need to put down rules and regulation that will continue to help humans live and grow for generations to come.

Employees should show solidarity and stand up to management and call in sick or walk out in protest! Across our great nation media coverage and protests get politician’s attention and start changes. Just a thought!!!
I dont work with Optum anymore because I saw the empty promises and unethical practices BS!!! I’m better off and my colleagues that stayed with Optum are always scared of being layed off biweekly!

@1gjl+1poGArHi - issue is with wealth distribution and healthcare ethics. In the US, we pay more and get less than any other industrialized nation for our healthcare expenditures. Rather than fix the issue, leaders resort to more exploitation of workforces offshore. Improving profits, fixing nothing while taunting success.

Unfortunately it’s going to get worse before it gets better and like other industries (tobacco) the individuals responsible will ride off into the sunset looking for the next opportunity to exploit.

By the way, UnitedHealthcare tops all insurers with an expected bonus payment of $3.9 billion for Medicare Advantage. Companies will emphasize losses in one segment without mentioning that the result of that loss was a huge gain in another.

We were told from higher up that the layoffs were due to Optum committing medicare fraud and they now have fines/fees to pay. So they "had" to do layoffs so they don't lose money. The amount of corruption and fraud that goes on in this company is sickening.

Corporate Greed - increase shareholder value.
Complete and utter disregard for employees (who do all their work)
Complete and utter disregard for the member (those who are insured)
Complete and utter disregard for healthcare.
The ONLY country where corporations profit from sick people
There is something wrong with this.
Don't cure illness, just put a band-aid.
Can't cure as money would be lost, profits would decline & the C suite would not profit.

Disgusting, Despicable, Disheartening

@1gjl+1poGArHi. Shut up and sit down, Witty.

To all those complaining about offshoring, out of the 350,000 employees at UHG, less than 100,000 work offshore and unlike US employees, offshore employees are not a burden on US healthcare and dont get paid in dollars. The main reason for layoffs is because UHG's primary revenue source is medicare and medicaid reimbursements and the government is done with unlimited reimbursements, hence the rate cut and mass layoffs. Without offshoring americans wont be able to afford anything, that iphone that costs you a 1000 bucks will become 5000 bucks if made in the US because workers would want healthcare and will unionize the moment they can. This is economics 101 and if you dont like capitalism, then go live in a socialist country.

They’re offshoring American jobs while Andrew Witty and the other big wigs get richer and richer

Don’t worry, I expect CVS to layoff people even with positive earning. They did it in Q2 and they will do it again. Another round in Q1 2024 is my best guess

Shawn Fain, just for letting this evil empire go down. This management is ridiculously anti employee.

Layoffs also across Optum--the technical arm of UHG.