So I take this as the official name of the RIF . This is an excerpt from Elevance'a annual report to the SEC: "During the third quarter of 2023, based on a strategic review of our operations, assets and investments, management implemented the “2023-2024 Business Efficiency Program” to refine the focus of our investments, and optimize our physical footprint. The 2023-2024 Business Efficiency Program includes the write-off of certain information technology assets and contract exit costs, a reduction in staff including the relocation of certain job functions, and the impairment of assets associated with the closure or partial closure of data centers and offices. The 2023-2024 Business Efficiency Program is expected to be substantially complete by the end of the third quarter of 2024"
Report also mentioned 26,800 employees are offshore.
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@9xae+1rvZspSe I'm not a level to get stock options, so don't know. How did they sc--w you over?
They change the name of RIF programs so they are not covered by the involuntary termination provisions of the stock agreements - this allows them to cancel your prior stock awards. At this point, I am just glad I am out...
Spyware just updated on my computer. Active ops gatherer. Anyone else?
That offshore number is increasing all the time.
What a joke. As the flush all the people with the knowledge and skill sets to support Providers and members, they have broken all that was good about the company. If the data stinks and you can’t pay claims correctly or make correct care decisions, any money you save will be lost in the end. Complaints, rework, teams of employees mopping up the mess left by broken processes and missing staff is not efficient at all. The data is very very bad and they have prematurely implemented things in the name of innovation that simply don’t work. It’s a hot steaming mess.
25% offshore. Less than I thought.
The underlying problem is outsourcing, and we are pouring oil to the fire by outsourcing more.
Every company ships jobs out of the country, and we wonder why both the Medicare and Social Security are in trouble. Why are we squeezed today when the government is in deficit?
Then we attempt to fix everything by increasing the labor pool, thinking attracting foreign talents in H1B visa will bring more jobs, fix Social Security and Medicare. Laying off many people because we are creating jobs.
As a shareholder, this statement causes me much joy. As an employee, not so much. I sure hope the joy carries me through to the next phase of my life if I’m included in with those “assets” that get written off. No wonder everyone’s walking on eggshells these days.
"Business Efficiency Program"? I would take this seriously if it came from any other company.
Yeah but they dont tell us.....