Company has let go of around 200 plus pep per estimate. There’s been a lot of mismanagement by the management team and bad decisions with promoting people that were not ready for leadership roles but were good at politics. Sad to see this as so many of my talented coworkers have poured their blood, sweat and tears into this company which was at one time promising to change the health of a nation. Hope this course correction helps and is not a sign of worse things to come.
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How often does Evolent lay off? Is this a normal practice for the industry?
Everything I've read above I agree with . I was one of the 200 in the layoff. And I agree, with unlimited PTO, there had to be some guidelines set up and yes, you cannot request more than 3 months in advance and you are 'allowed' a one time exception to go beyond that 3 months. I agree, people will be taking less PTO now.
The real problem is that smaller, seemingly hard decisions over the last two or so years weren't made which led to the need for a drastic course correction now. Many of the basic functions required to deliver on client commitments were done poorly leading to dissatisfaction, penalties, and loss of business. Company acquisitions weren't thought out and integration across functions weren't prioritized.
With ~3,000 employees, 200 individuals laid off is a substantial adjustment but unfortunately the leadership and direction that got the company into that position are still in place and get to push the company to the brink again.
Also agree with the prior statement about unlimited PTO, it is only window dressing for the other cuts. 25 days was already more than the vast majority would/could use. It is really a cost saving measure where they don't have to pay out remaining PTO when an employee leaves
How do you know the layoffs were 6%?
I was among those laid off and curious.
Also unlimited PTO is simply to save money, it’s not a tactic to make employees feel better about the bonuses, wage increases and 401K. While this model may sound ideal, it often leads to employees taking less time off.
I don’t think this will be the end of the layoffs. Last week’s letter from the president did not inspire confidence. Stopping the 401 k match until the end of the year to see IF they will even give a match or how much it will be, no raises this year, and cutting our bonuses wasn’t enough. How do we know if the 6% staff lay off will be enough? They’ve made foolish choices the past few years and got too full of themselves. Now that things aren’t panning out, the rank and file pay the price. The talk of implementing unlimited time off is a trick to distract us from what they have taken away. Hard enough to get time off now, do they think that is really going to work out? It is so much harder to meet our metrics in this new system they implemented and our work flow just keeps reducing. Only a matter of time before round 2 of layoffs begins.
Sorry to hear that.