What do you think, how will this year pan out for HCSC? How many layoffs will we have?
16 replies (most recent on top)
It was top heavy not bottom heavy. Not true about the 37 and below.
Upcoming Lay-off announcements for level 37 and below will be completed before March 2
I haven't heard a single word about layoffs below the 37 level. Not one.
That is not likely, it is not your manager that has the lay-off conversation with you, that would be HR.
So they wouldn’t bundle your compensation conversation with a lay-off discussion.
They will use the early March year end compensation conversations for the next wave. "Between March 2nd & March 11th"
There are not rumors in Anthem about an acquisition/merger of HCSC, merger will be a like org. Layoff will be onshore contractors after board meeting vote on merger.
The rumors are coming from creditable communication sources from inside HCSC
Where are the March 2nd rumors coming from? :’)
I think any merger or acquisition will be dependent on the 2020 ere—.
Why everyone is so concerned about a potential acquisition? Other than the pension, which IS significant concern. But anything else? Companies acquire other companies all the time and for most part that doesn’t affect people on the ground or day to day operations
This question is probably from a reporter looking for stories
Pension amounts can negatively impacted if company decides to terminate an active pension plan. Ask any IBM employee who was around in 1999 when the company pension was terminated and the cash balance program was implemented. IBM saved over 200 million on this plan alone and their 140k plus empires lost their company funding
Apparently we need to learn to read.
The rules can be changed, but it can not be less than your current vested amount.
Of course if it freezes it or changes it going forward those rules would apply.
Might want to recheck and NOT rely on post stating pension can not be less. It absolutely can be less!!!! OK Acquisition is just one case in point. The pension calculation was significantly modified to be LESS than it was. Many many employees were negatively impacted!!!! Also, HCSC or acquiring company can change the rules, like remove the lump sum payout which would be a huge negative impact. Go read the pension plan on fyiblue. It can be changed, reduced and dissolved. It's good to be the king, or CEO, Board member. HCSC DOES NOT value it's employees.
When a company establishes a pension plan, the plan itself is a legal entity. While an acquiring company can terminate a pension plan after an acquisition, it can't lower the amount of your vested benefit and must use the money in the pension plan to pay the plan's liabilities.
Well we all keep hearing of the next round for Level 37 and below to be carried out by Mar 2. I am guessing that count will be in the 200 range. After that, depending on what HCSC is told by the company to acquire, we would expect some additional lay offs to offset the combination of the two companies workforce. BTW, if you have a nice pension acquired at HCSC and am able to retire, Anthem does not have a company pension program