Thread dedicated to 10/30. Please share only credible information.
66 replies (most recent on top)
I’m in one of the affected groups and have a backlog of work thanks to low skilled offshore employees doing virtually nothing. The schadenfreude would be delicious if they lay me off.
If $ is no longer a reserve currency, we have a really big problem beyond just jobs. Just imagine the debt we have and remember USSR
Weekly Friday team meeting moved up to Thursday 8 AM. :/
@f5
In due time .... In due time ...
Check again Friday morning.
@ev
Mine 4.
2 GL29's, a GL28 and a GL26. Two 4's and two 3's
Others dunno numbers, I know they are gonna be hit though
There is a pocket of CHC leaders still hanging on and bucking all Optum processes. They simply need to go.
Can't wait to compete for jobs with everyone else in America plus the up to 30K employees Amazon is looking to let go starting this week. America has become an economic sh-t show.
@e7 how many in your org? Any info on your counterparts' orgs?
@dn madhu pawar, her number is up soon
@em cost differential is more like one fifth, but you're directionally correct. They really only want the dollar to be weak enough for China and EU to buy from us but not so low that we can't outsource to slave labor economies like India, other parts of South/SE Asia, and Africa
@ds dollar spread yes. But 20-30k is a very high income in India, top 90% - the elites.
This will continue until the dollar is no longer the reserve currency. The time is coming sooner than most think,
@e2
If I had more I'd for sure share it. I am a gl31 in OT and can say it's unfortunately wide
@dp more info would be helpful if you have it.
@ds Fascinating fact is that India (and Ireland) get higher percentage annual raises. Offshoring savings are locked in, it's closer to 1/4 the cost, but then labor costs creep up faster than in the USA in out years.
Real trick is that when there's a RIF, as the job is refilled it's almost always downgraded at least one SG.
The RIFs are not really RIFs. They are reduction in cost.
All OT layoffs are being sent to India at less than 1/3rd of the cost for the same grade.
Someone on $100k in the US, OT will get for $28-30k in India.
10/30 is indeed the date. OI is rumored and OT is confirmed. I had to give a name weeks ago. I can only speak to OT, it's big folks. As for people suggesting RIF's impact stock price, that's utter nonsense. Revenue is ip and profits are back on track and RIF's don't directly impact stocks at all. Indirectly they do along with other cost cutting measures
10% of OptumInsight would be ~3400 people. I dont buy it
We seen a request in OI to cut capital by 20% and 10% of the workforce by 10/17. Names have already been provided
warning call = earnings call
@cz What is the "Warning Call". The call would be scheduled on our calendars tomorrow if we're getting canned?
My mistake: the call is tomorrow.
Just listen to the warning call. Your layoff will happen right after it. They will not risk any negative info getting to the news and impacting their stock. So layoff will happen right after the 30th of October.
@af Other piece is duplicity between OI and OT teams chasing the same things. Housecleaning under SD is OI teams (often USA) working on projects that mimic OT teams (heavier India) will get cut.
Opinion is OI and Ops that spans Optum are not moving 100X and pure bloat. With Roger getting the boot, it was only ethnic kinship that allowed the CPO who Roger hired a spot on the town hall. The purge of the Witty regime will continue.
an AI "Fund" - please try and use AI as your logic is nonsensical
As others have said, I know they are cutting budgets and taking 20% of all capital allocated to tech projects and putting them in an AI fund. They believe they can do that because AI has made all staff 20% faster (this isn’t true but it’s what their BS metrics told them).
Anyways, I don’t have hard information on layoffs but it seems like this would be around the time for them to do it.
So far, I know that budgets are being asked to be cut by a substantial amount, especially in Tech. Obviously, there will be an impact, not sure what/where/which...