My Director said this during a meeting regarding Bruce’s billion dollar email. What does it mean?

My team had a huge re-structure, and it seemingly came out of nowhere and was abrupt. We were only notified about this change via email. Our entire team will now be reporting to a completely new set of Associate Directors and a new set of Directors, and we’ll also be working with new colleagues and groups. Had a meeting with our new Director today and someone asked if he could clarify what Bruce’s email meant, and if layoffs are coming. This is what he basically said:

“The reason why we you haven’t heard many updates regarding the billion dollars, is because Humana is a publicly traded company and there’s a process we have to follow. There’s only a certain amount of information that I can share with you, before it gets to wall street. If you want a general idea on how we’re doing with the billion dollars, I suggest you join upcoming earning calls because that’s where you’ll receive progress updates. As far as RIF’s, none of that is planned and none of that has been talked about. The billion dollar in savings is more about value creation, and not budget cuts or RIF-related.”

I feel like that’s a lot of word salad, and I have no idea what value creation even means. Can someone translate, or provide insight on what all of that even means? What are your thoughts/opinions? Do you think he was being truthful?

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Seems a bit odd. It's the complete opposite of what we have been told. We were straight up told there are definitely RIFs coming, but nobody will know what areas or when. I personally always expect RIFs even when they aren't announced. They happen every year. Just not on a large scale like this is supposed to be.

Regarding the call transcript link by the below poster, while this is a lengthy read it is very telling if you can get past the financial/investment lingo. Some things that stand out: BB says, “ While we're not able to share details today on a specific transaction structure or timing, we expect that we will be in a position to provide a meaningful update by our first quarter call. ” and SD says, “ There's still a lot to be done to finalize discrete initiatives and the timing of those, but that is our initial thinking.” Definitely like there’s a deal for a merger in the table. The entire conversation was about the focus on “the home model” with focus on home health and primary care clinics to reinvent themselves.

Humana's (HUM) CEO Bruce Broussard on Q4 2021 Results - Earnings Call Transcript https://seekingalpha.com/article/4483598-humanas-hum-ceo-bruce-broussard-on-q4-2021-results-earnings-call-transcript

Basically, he said the billion dollars is coming in savings not layoffs….they are projecting a billion in savings with whatever future collaborations they are doing, and can’t disclose the information due to federal regulations, which is another good sign it means a business venture, not a layoff.

Good news!

Although Humana talks about going lean and envisioning it as a startup. In reality, it’s not a startup, neither big. It’s a mediocre.

Humana is a management heavy firm. Too many managers, associate directors, directors, vps and their are so many self born managers who don’t work and just commands. I recently interview for a management position in a startups with almost double of what I am making at Humana but expectations is that I am required to do individual contributions apart from providing management as a support.

Thread regarding Humana Inc. layoffs

My Director said this during a meeting regarding Bruce’s billion dollar email. What does it mean?

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