We will see additional layoffs starting in late July and continuing monthly/quarterly until 2026. Expect 2025 layoffs to be even worse then 2024 due the Medicare, Pharma and Change costs. Financially our company is in a really bad spot. If you are a grade level 28 plus don’t expect a merit increase or bonus. Your leaders know what is happening and explains why they are leaving without jobs. They don’t want to work for free either or worry about getting cut for the next two years.
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Original poster is right. Change healthcare has already been priced in, but significant headwinds with M&R reimbursement changing for the next 2 years (3 including this one); large increases in Pharmacy costs. To the commenter on "5 BILLION", compare that financial position over the last couple years and consider what that means to shareholders. Names have been submitted over the last few months for Q3 RIF.
I was cut in May after being with the company when it was travelers in 1989. The Chamge exposure really sc--wed things up nightmare age 59 or older , have health issues, been with the company long term , or you are a support roll, or they can donwithiutntourndeoqrtment yiu are toast.
Q2 4.6 billion profit wasn't enough
Any advice for providers about to be layed off?
"Our company financially is in a really bad spot"
What are you talking about? We made 5 BILLION in PROFIT in 2023. How is that a really bad spot?
what is the severance pay being offered to providers?
do they report to WARN? Are the under legal obligation to do so?
Um what is new that has been the default condition for a decade layoffs every qtr at minimum. Optum is as top heavy as a new mega cruise ship. It is a wonder the whole thing has not capsized already. Keep chopping away at those upper decks.