Voya Financial restructured the IT Departments with large layoffs of up to 50% of the workforce including a rebadging of employees to Cognizant.
The jobs were either eliminated or offshored to India.
The layoffs were done in phases in order to avoid reporting the layoffs occurred 8/17, 11/17 and 4/18.
Employees were notified via conference call.
Update: Those employees that had worked for Voya and were forced to be "rebadged" to Cognizant and work as contractors in the same jobs they held for 5, 10, 15, sometimes 30 years are now being let go from the Voya altogether. Voya's plan of making loyal employees contractors (in order to avoid paying severance), keep them on for two years while those employees transfer their knowledge to India based Cognizant for cheapers cost to let them go altogether is nearing completion. This is a sickening company lead by hatchet woman Maggie Parent and Rod Martin. Never work for Voya, never buy any of their products, hold a 401k. Avoid this disgusting place.
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The executive members led by Rod Martin and his hatchet woman, Maggie Parent, couldn't careless about their employees. They'll outsource all of IT to India based firms. They have forced those not laid off to be "rebadged" and become employees of Cognizant, doing their same jobs but as contractors, in an effort to avoid paying a severance. Do not invest, hold a 401k, insurance policy (or any of their products) or work for Voya. Avoid this place at all costs.