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I heard they were ditching it and instead going to give us $2500/$5000 on Jan 1 to put towards purchasing health insurance from the state exchange. I went in the web to see how much that would cost and it's over $1800/ mo so that's not even 3 mos they'd be paying for.
Can anyone confirm if this is true?
Wow what a bunch of useless fluff. They do not sound positive about the future at all. Pete is giving me bad vibes. He’s basically blaming everyone else for Carelon problems.
Any whisperings about RIFs in Specialty?
In the severance document at the end, they list the job title and age of the employee who was riffed. 77% were age 40 and older. 23% were less than 40. If that isn't age discrimination on a massive scale, then what is? My role was given to another employee younger, but as experienced as I was. I was not let go for performance reasons. I'm angry and there is nothing in my discipline that I can find online making it even worse to find employment after all these years of service. They gave me almost no notice of the riff. I barely had time to say goodbye to many of my coworkers. I understand if I were old and not able to think, and not able perform my job, but that isn't and wasn't the case here.
Roughly 2% of the 102K employees (slightly less than 2K employees were riffed).
If each employee made roughly $100K (just an off the top average guess) and there were 2000 employees, the company stands to save $200M per year in direct salary costs alone. That figure doesn't include payroll taxes, health insurance premiums, 401K matching contributions which they sc--wed us on as well as they pay it out at the end of the year (and not prorated to my knowledge), they sc--wed me on vacation time that I didn't use earlier in the year to keep the project on track, nor the floater holidays that I didn't take early on but had scheduled my vacation later in the year. Also this doesn't include bonuses (which I didn't get anyway, same with stock options or other benefits. Thus in total I estimate the guys at the top saved closer to $250-280M annually. I guess greed is good for the guys at the top.
I suppose it varies by region. I've looked at the Obamacare policies and even the platinum plans are lousy.
If you are 65 or older, sign up for Medicare (Parts A and B) even if it means paying the income-based surcharge. If you lose your job, Medicare will only begin on the first day of the following month, and it can take time to get supplemental plans in place. COBRA will not cover you once you are eligible for Medicare. If you have an accident or a serious illness during that gap, you could be left without any coverage.
Hey folks...former Nike Marketig employee here...sorry to hear about the latest round of misery. Here's something to chew on....About 15 years ago I did an analysis of healthcare spending costs at a variety of companies....when employees hit 45 years old, the cost curve looks like a hockey stick. Companies shed older workers to save on insurance costs as well as salary.
It's the last bastion of acceptable discrimination left in this country.
Good luck to you all.