Elevance Health is implementing significant cost-cutting measures across five different markets to mitigate the impact of a 1.5 million membership loss and poor investment decisions. To appease shareholders, the burden has fallen heavily on employees, with the company's growth strategy now primarily focused on layoffs and acquisitions to offset tax penalties. During a recent high-level meeting, CEO Gail Boudreaux presented an aggressive target for reductions to boost the organization's share value. The cuts, including those affecting overtime, hiring, and other expenses, were meticulously designed by the HR team to prepare associates for upcoming reductions in force (RIFs). The first round of layoffs commenced in mid-May, with subsequent rounds planned for summer, November 2024, and March 2025. Additionally, there is a plan to offer voluntary separation packages with severance for employees nearing retirement, which will be rolled out by market. The message to employees is clear: those unable to cope with these changes should consider leaving the company, as no one is safe and everyone is fighting for survival.
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Anyone have any news about the CXO in all this? Depts with planned layoffs in CXO?
What is considered “near” retirement, please?
Which markets specifically? Is this commercial or GBD? Is clinical being affected this time
Yes many RIFs in last year are done at levels much higher than manager or even director. And Carelon was mentioned in many threads lately, being heavily impacted.
Wow. So looks like 8/8 is the day. Will CarelonRx also be hit? Any in leadership who are in the know and willing to share please do. Most of us have big bills and want to at least mentally prepare.
To the manager who wasn't asked to submit names -- did it ever occur to you that YOU might be the name?
The names have been submitted. HR wanted 2 months notice because there are so many people who will be impacted. Our group is losing 15% of our staff and when this comes down, I expect every moderate- high performer to stop producing, check out and leave ASAP.
This is a company wide initiative. It impacts all departments.
The RIF notifications will be given August 8th.
I’ve been applying and trying to get out for months. Not so much because of the RIF’s, it’s mainly because of the toxic department I work in. The biggest problem with any insurance company is RIF’s. It awful. It has nothing to do with performance, it’s just the constant restructuring & money savings. I hope to find something soon. My mental health is suffering.
This is outrageous! I'm done. With one kid about to go to college and a pretty big mortgage still I don't have the luxury to sit around and wait to see what happens. I've been interviewing and will continue to do so until I can escape. The hardest part will be continuing to pretend like a give a sh anymore. Does anybody at this point?
If there are any in leadership here willing to share the departments being impacted by the upcoming RIF kindly share. The uncertainty has had a detrimental impact on my mental health and I know for a fact I'm not alone. My children ask me why I never smile anymore.
How soon are these RIFs going to happen
I am a manager and did not receive any request for names in Gbd
Anthem increasingly prioritizes being liked over actual performance, with top leaders more focused on blocking emerging talent than coaching the next generation. This culture of superficiality means that significant resources are spent on creating an image of a great organization, rather than investing in truly becoming one. As a result, Anthem has become a place where great talent stagnates, and mediocrity thrives. Ambitious and capable individuals often find their potential stifled, while those who excel at playing office politics and riding the coattails of others are the ones who get promoted. This misallocation of investment and effort undermines the company’s potential for genuine excellence and long-term success.
Yesterday and today, all managers across the organization have been asked to submit names. Almost every team is being asked to give at least 1 to 2 names.
Not surprised at all. I think many people are already trying to leave. This company is so poorly managed. It is a train wreck honestly.
Interested to learn more about “… there is a plan to offer voluntary separation packages with severance for employees nearing retirement…”. Please share details when you hear of them. Thanks!
I knew it was about to hit the fan when they put a ban on travel.