Special one-time offer to exit with weeks of pay tied to # of years worked. Must be over 10 years. I feel for those that have worked less than 10 years, as they will probably be shown the door soon.
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At least Optum Tech was transparent - Optum let 6 in my department go in July. 5 were over 50, one was male. I had 30+ years with company and no poor performance issues and excellent bonuses. We were given 2 weeks and told we did not have to work them. Handled really poorly as well. COBRA costs are killing me - would have loved this package
Based on this quote from Sr. Leadership, what excuse will UNH come up with for not funding the remaining VSIP "deferred" employees? Lack of available budget doesn't seem to fit.
“Corporate Tax Reform is expected to improve earnings and cash flows by $1.7 billion in 2018,” UnitedHealth Group - CEO David Wichmann told analysts Tuesday morning. (Source is Forbes - check out the entire article if curious).
This program is a Human Capital debacle. We were offered a great program - told they would let us know the end of January. Some of us were deemed “too valuable” and were given a deferred status. This is not notification more like leaving us twisting in the wind. We have no idea what is happening. How is that for treating your alleged best employees? Now rumor has it there is not enough money to fund the program. So much for putting employees first!!!!
Yes this is true. 3/2 is the last day for the 350 that were accepted / approved for VSIP program. The deferred will need to remain on until June. This company will do whatever it takes to get the old folks out the door without lawsuit. In addition, 4 out of 5 IT jobs will transition offshore (OGS) in 2018. If you are not fresh out of college or from India, it's probably time to move on. Sad but true.
To my knowledge - 500 people applied for the VSIP program offer. 350 were budgeted and 150 were deferred (denied?) with a blanket reply. Many were informed that their job was deemed as too valuable to business continuity or their jobs could not be immediately automated. Just a few weeks back Wichman said to Wall Street that UHG would have an additional 1.7 billion in 2018 revenues due to government tax cuts. Employee morale is at an all time low and many are angry at Sr. leadership. Have others heard similar responses?
Can anyone tell me if Optum announced VSIP in Dec-2017 that means they desire to send out 55+ with 10 years experience , then how to trust that the employees who were laid off at least during the year 2017 during the immediate prior months were not laid off due to age?
20+ people named in an email announcing upcoming retirements in few weeks. Time in ccompany 11 yrs to 40 years.
Question for Sad Employee No Bonus - did you get the standard severance package or just 4 weeks?! I am pretty sure I will be next (signs are there). I have been with the company 13 years and was counting on the 5 1/2 months severance. Please tell me they didn't only give you 4 weeks after 23 years + no bonus!
Having worked my a-- off for for the past 23 years for this company, I didn’t sign the volunteer leave and was just been notified today that I have exactly four weeks left in the company....perfect timing to kick me out before the bonus is awarded.
Latest on the VISPs in Optum Tech is that a larger number of people have expressed interest in taking the offer than was expected. Now, the executives have to pick and choose who they will formally extend the offer to. Not unreasonable to expect that those who expressed interest but were not among the chosen few may be among those targeted for RIFs in the future.
I was given the VSIP offer, I didn’t take it since my husband just lost his job. I’m kind of regretting not taking it now after having my review .... I’m doing a great job, rated all 3s and 4s, but guess what, no bonus or merit! They’re making money hand over fist yet they can’t give people just a small morsel.
30 were laid off in Duluth this week. 2018 will be a repeat of 2017
Does anyone have a more recent count of how many have accepted? I have a decision to make.
Have worked in the same optum area for over 40 years with 2 separations.
I was called back twice.
However my "last date of service" is 4.5 years ago.
So I am not eligible in spite of my overall tenure of more than 40 years!!
Last year they did a reduction in force to cut costs. Performance or contribution to job was not a factor. Management of the staff was not even told about it until the day they were the ones that had to tell staff they were eliminated. With the VSIP management was again not told anything about it. Meanwhile we receive numerous communications proclaiming of optum’s and UHG’s profits and successes. It boggles the mind they wondered why they got such bad employee survey results.
They will wait to see the number of people who have accepted the buyout on January 11, then determine how many more will be laid off with only standard severance. For a company that is making profits in the millions, quarter over quarter, don't understand the fire sale approach, unless to get rid of the "old folks".
Who would want to stay in Optum given great offers outside. Is it another employee stock options rigging ? I suspect it is.
To add... If you got the email you are eligible..if you didn't you are not.
It will be interesting to see what happens with those that don't take the offer. Will they find next year their position gets 'eliminated?' Just wondering on my part. Understand business decisions but something here just doesn't sit right with how this has been going down all year.
For context... I was 'eliminated' in Q1, 10 years, grade 31, low 50's(age), 5 on every review.
It was total tenure, not based on each segment you may have been in.
What if majority of years were in uhc and only latest 2 in Optum IT? Will offer still apply or will I be rejected.
I was part of the Dignity Ootum360 mess. After 12 years with those companies as the most senior analyst managing the most important KPI for our MSO I was pulled into a room in the Pasadena office by the Director of Reporting & Analytics Group and told my position was being eliminated. However, 8 days later my job was opened in the O360 office in PHX.
I was laid off in July. 12 years service and 55+. Standard severance pay. Grateful for that, but sure would have been nice to be offered a package! Are they getting up into the higher grade levels no, GL 31 and up?
Damn. I was in wrong group. Ten years in UHC and 55+. Riffed late this year. Standard severance package. Would have applied for the Optum package in a New York minute if it was available in UHC. Oh well. I'm now retired, feeling good, and enjoying laying around house in morning. Don't miss commute. I'm one of the lucky ones.
Correct, Optum Tech. 'Voluntary Seperation Incentive Program(VSIP)'. One time offer and must respond by 1/11/18. Lump sum payment based on years of service(standard severance policy) and pay grade plus an additional 26 weeks of base pay. Also a lump sum payment equal to the full cost of 18 months of COBRA coverage(assuming you're on a United plan). On 1/28 management will complete their review of the requests and notify the employee. The term date would then be March 2'nd. No reason given other than....'As Optum Technology continues to evolve.....' They're offering this. It was 'offered' to 1300 employees, 55+, 10 years tenure, grade 32 and below. As of last Friday's IT SR Leader meeting it was said 18 people had put in for the offer.
This voluntary package is just for Optum Technology, correct? Not all of Optum...