https://www.modernhealthcare.com/finance/humana-cuts-medicare-advantage-changes-earnings
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A lot more layoffs coming
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Announcements of more RIFs next two weeks.
@4jer+1qLUYF9u did this lead state if any of these layoffs will hit IT again?
There will be more layoffs. An IT leader told us 2 weeks ago.
I think you have to be strategic while jumping around to accumulate key skills that translate across multiple jobs and employers
The problem is they have cut certain areas >65 percent in the regions during project growth and they are talking reducing others by 2/3rds this time around...
You are only as safe as your skills and how valued they are by others. Do the smart thing...start applying now. If you don't get anything better, great, stick around. But pretending you have control outside of acting like a free agent is insane...they will cut you in a second to make their numbers.
Waiting to get cut means possibly missing out on opportunities from employers who are growing in the area and have a small window to fill multiple roles.
I agree with the long response posted that Humana is not a pseudo family. Recommend you make yourself as valuable as possible in your team. Become the SME. Make it painful or a last option for Humana leaders to consider you in a RIF list. This means staying with a team longer to grow your subject matter knowledge and be vital in day to day operations. Avoid jumping around from area to area every few years chasing compensation bumps. This can be argued that you are learning more and developing skillsets, but in reality you likely not use that specialized knowledge in other areas. This will also put you high in the pay range and increase the target on your back as you become expensive to Humana. Work on soft skills, don't rock the boat, support your leader even if you do not agree, stay in the area as long as possible and grow your knowledge of your area. This will minimize the target on your back and increase job security. I know this does not guarantee a position in a major RIF if your area is going away but you will be in a strong position if focused RIFs occur.
Perfect timing for new CEO to come in and then leave Humana hanging before he finds a better opportunity! What a mess. So much hard work down the drain.
More lay offs were planned before this horrible announcement. It’s interesting that our competitors didn’t fail this miserably!!! Things are tough for everyone in healthcare, but blaming Medicare or an outside force is counterproductive. The top leaders of the organization MUST be held accountable. If the real workers at Humana weren’t doing their jobs, they would be terminated. Stop making excuses Bruce, Susan and friends and offer to give back your 2023 salary, bonuses, stock options and the like!!
Might start with Ritesh. What a horrible person.
Offsetting the $1B stock buyback?
Might be over multiple years which would lessen the impact. I can not read the article as I did not subscribe but likely will keep at current reduced levels of spend for multiple years. It does not mean 100% there will be more layoffs.