Was informed today by leadership that my organization has to cut budget by 40%.
In other words, more layoffs are coming our way.
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Aetna Dental has been losing membership every quarter. Not surprise Dental will be part of the layoffs. By the way, nobody never said that layoffs are stopping. Im glad I was booted out last August. Just watching CVS/Aetna crumble from the outside instead of the inside. I was a long hauler in the company . Good Luck everyone. Get your resumes updated.
Aetna Dental will be heavily impacted, again. Those few left will be out on a hybrid schedule.
Cut all the extra layers of “leadership”. If you’re more than four layers from the purchasing customer you’re gone. The sole reason for the extra management is not giving authority needed to the people closest to the customers. There’s your 40% right there. PICK OFF THE LEECHES THAT ONLY DRAIN MONEY AND MORALE YET CONTRIBUTE NOTHING.
I agree the merger- Aetna and cvs was the worst mistake and we have been paying the price since.
Engineering is cash revenue generating, IT is overhead
I believe it. Nathan Frank requested IT give back hours for projects went couldn't afford to give back.
What part of the organization?
remote for the next 10 years.
I've not heard of any layoffs, no signs also, why do they spread rumors???
If it comes to it PBM and Oak Street is all that will remain under this and no more jobs for any other area in the US all GONE!
There are several issues going on. Some obvious; KL is an inept narcissist. Loss of a Star rating on one of the H plans. Loss of large contracts to competitors: UAW Trust, Cleveland Cliffs, etc. Loss’ incurred at the stores due to: competition, theft, and decreased foot traffic. Instead of holding those responsible, ie leadership, a massive layoff of the work force was chosen instead. As many have stated this is a bandaid on a hemorrhaging wound. Aetna and CVS were better off separate. The merger has been an unmitigated nightmare that no one seems to want to acknowledge or be held accountable for. So unfortunately the little person will pay the price.
@1ntj+1twlTTQZ Your right cutting retail does nothing to help Aetna. However it does provide a smokescreen to make it look like they're actually doing something about the issues at hand.
Retail closing stores and retail slashing store labor ain’t gonna help Aetna hit their numbers lmao.. retail beat on profits last quarter and before that.
Gotta clear out a lot of Aetna expense to make up for bad Aetna math if you want to make Aetna appear they’ve righted the ship. Closing stores doesn’t help the Aetna narrative.
This is a company that closed offices like mad, eliminated travel, cut 5k people, closed stores AND YET STILL CANT HIT NUMBERS!! this place is fu---d
Comments on Engineers are a troll. Funny, but none the less, a troll.
If engineers are short staffed (actual spend < forecasted) it makes sense to cut It capital budget because they aren’t tracking to spend it.
If actuals are coming in at or over budget currently … the company and your leadership don’t think you’re short staffed.
A lot of delivering on reduced budget can come from not hiring/spending to hire a person not in role, cut travel, reduce promotions/raises.. stop using contractors that cost 2x as much. Shut down projects that everyone knows are moneypits.
But OP isn’t clear what they mean by cut budgets… not clear if this is for in year or their department submitted some super huge budget submission for 2025 that they likely knew was going to have to get cut back as happens literally every year as part of the annual planning process.
Not engineers, we are short staffed
I am glad I am no longer there. Layoff was a blessing in disguise.
Prayers for all of you that you have better days ahead.
What area of Aetna can you give some more information without identifying yourself?
But do salaries fall into “budgets”? I thought those were in a separate bucket?
What org are you in cuz I am in Aetna?
Getting hot out there
Thanks OP for the heads up. next 3 weeks are going to be crazy. good luck all
And the hits just keep on coming. Once again this is not surprising at all. Poor decisions by senior executives AND failure to see the Medicare issues ahead of them has once again led to the little guy getting sc--wed. Meanwhile all the kool-aid drinkers continue to make the heart symbol with their hands on social media.