UnitedHealthcare is providing certain employees within its benefits operations unit the option to accept buyouts if they resign by March 3, following a challenging year for the insurance giant, according to CNBC. Those who decline the offer will continue in their current or a similar role, as stated by sources familiar with the matter. If a specific resignation quota is not met through voluntary buyouts, layoffs will occur, as indicated on an internal resource site. The company has not disclosed the number of employees receiving these offers under the Voluntary Resignation Separation Program. The benefits operations unit manages customer service, claims, enrollment, and insurance benefits, among other responsibilities. UnitedHealthcare, part of UnitedHealth Group, is the largest private health insurer in the U.S. Despite reporting record annual revenue of $400.3 billion in 2024, the company is striving to reduce costs amid rising medical expenses and the financial impact of a cyberattack on its subsidiary Change Healthcare. Eligible employees include U.S.-based full-time or part-time workers in four segments under benefits operations. A UnitedHealth spokesperson emphasized that this initiative aligns with efforts to adapt to evolving customer needs and highlighted over 3,200 current job openings. Severance packages will depend on years of service and salary grade, with benefits for laid-off employees potentially less favorable than those in the buyout program. Employees learned about the buyouts during a brief meeting and will have opportunities to ask questions in upcoming sessions. This development follows the aftermath of the cyberattack and the recent shooting of the insurance unit’s CEO. — news from CNBC
