Almost 600+ of my coworkers were let go this Wed over the phone at Humana - we were given a 60 day notice. We know it had something to do with the failed Merger w/ Aetna. This SUX!
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Looks like Humana is getting 1 Billion dollars from Aetna. Ouch! that's gotta hurt!
I do not believe the merger will go through. The new President is looking to create competition among companies. The merger is also a violation of the anti-trust laws, and would create an insurance monopoly. Aetna was caught lying about its pull-out of the ACA markets which further demonstrates the companies ethical culture. Also, the new President would not over-ride the decision of Judge Bates and the DOJ. The layoffs simply two companies looking to stay profitable. They can always hire people back if they need them.
I think you are correct stating it has something to do with the merger but not because it failed. First, they still have the appeal which I think they will do. I think they are getting ready for the merger and can't absorb all the Humana employees. So why would I think the Merger will go thru. Well, think about this. The ACA/Obamacare is down the tubes, the new administration is trying to come up with a new plan. In order to have a new plan they will need the insurance companies to offer plans. Obama went to the CEO at Humana, I'm sure the new president or his people have already talked with the CEOs. I'm sure Aetna and Humana pointed out how they need the merger in order to absorb the losses from exchanges. Bottom line: Merger needs to happen for exchanges to take place. Funny how the lay offs occurred right as changes are taking place that affect the DOJ.
ANOTHER INTERESTING THING. I saw posting where someone was told by HR that an outside company was brought in to evaluate who needed to be laid off. It was denied in the meeting but it is odd that HR told someone that. Another person posted those who have FMLA or have taken FMLA were laid off. Do I think a company came in and looked at each person and who to let go, The answer is NO but do I think an outside company might have given them the tools to make the decisions on some people. In other words if they need to keep some CHEs, it would be a way to help decide which to keep. Probably. Did you know that everyone has a HEALTHCARE SCORE JUST LIKE CREDIT SCORE? There are two companies who have been keeping your scores. Milliman and Ingenix are the two companies and you can actually request your score.
Doesn't it seem odd that the news hasn't talked about the lay offs? Maybe another reason to realize the merger might go thru. I'm sure there are deals being made that we have no idea about.