UnitedHealthcare is providing a few of its workers a buyout, or a monetary bundle in change for his or her resignation, if they comply with go away by March 3.
The buyout, referred to as the Voluntary Resignation Separation Program, applies to workers in UnitedHealthcare’s advantages operations unit, sources informed CNBC on Wednesday. They clarified that anybody who doesn’t settle for the provide will hold their present job in the meanwhile or be moved to a comparable position.
The sources additionally informed the outlet that if the corporate doesn’t meet an unspecified resignation quota, it would result in layoffs.
“This voluntary choice is a part of our ongoing efforts to make sure our workforce is greatest positioned to fulfill the evolving wants of the individuals and clients we’re honored to serve,” a UnitedHealth spokesperson informed CNBC in a press release.
UnitedHealthcare didn’t disclose what number of workers obtained a buyout provide, however an inside memo despatched to workers Monday and seen by CNBC confirmed that the buyout utilized to full-time and part-time staff in 4 subdivisions underneath the advantages operations unit: company, client operations, core companies, and supplier companies.
Associated: A Cyberattack on the Largest Well being Insurer within the U.S. May Put Your Prescriptions and Private Information at Threat
Per the memo, workers who settle for the buyout will go away by Could 1 on the earliest and November 13 on the newest. They may obtain resignation packages on their termination date, and the quantity will range relying on what number of years they’ve been on the firm.
UnitedHealthcare is the medical insurance division of UnitedHealth Group, which has greater than 440,000 complete workers, together with 160,000 medical professionals, as of a December 31, 2023 submitting. UnitedHealth Group is the most important healthcare firm within the U.S. based mostly on income — it introduced in over $400 billion in 2024, its highest annual income but. It’s also the most important firm based mostly on market cap, which stands at about $465 billion on the time of writing.
The corporate confronted a tumultuous finish of 2024 after the killing of its CEO, Brian Thompson, in December. Thompson’s loss of life has positioned the U.S. healthcare system and its rising prices underneath scrutiny. UnitedHealthcare named a brand new CEO, Tim Noel, in January.
UnitedHealth Group additionally confronted a cyberattack on its subsidiary Change Healthcare in February 2024 that compelled it to pay over $3 billion to healthcare suppliers affected by the breach.
Associated: Ought to Enterprise Leaders Concern For Their Lives? What You are Not Listening to Concerning the UnitedHealthcare CEO Tragedy.
