WellPoint to cut 1,500 jobs

Full story: WISH-TV 8 Indiana News

Health insurer WellPoint Inc. says it will cut about 1,500 jobs to reduce costs, a move that will cost the company $24 million in the fourth quarter.

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Maya

Lawrenceburg, IN

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#1
Jan 16, 2009
 
CEO earns 15 million/year, lets 1500 employees hit the streets with nothing. Now, that is what I call a well point made.
Abduhl Fakir

Carmel, IN

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#2
Jan 16, 2009
 

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He could send profits through the roof. Eliminate all employees. Think of the profit that could be made if there were no payroll ! It boggles the mind !

I am surprised this numbnuted idiot hasn't proposed it yet.
Share the Wealth

United States

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#3
Jan 16, 2009
 

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Maya wrote:
CEO earns 15 million/year, lets 1500 employees hit the streets with nothing. Now, that is what I call a well point made.
haha, ironic, that was the first thing that came to mind when reading this story--that the CEO is one of the highest paid in the state (at least)and is the highest paid female CEO around here. I bet she's not offering to take a pay cut, no just cut those worker bees, some of who are probably working 10X harder than she ever has. It's BULL that this is how things are now that the economy is soo bad, but yet the rich keep getting richer while the rest of us get it all socked to us. I don't see how cutting 1500 jobs will help the economy, but the big CEO not taking a pay cut will, yeah right!
Share the Wealth

United States

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#5
Jan 16, 2009
 

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Why can't people get over that Obama won? Yeah we're all going to be so bad off when he takes office because we're not already???!!! What fantasy world do you people live in right now? What has this president done that is so great??!! The new president hasn't even gotten into office and already you're not going to give me a chance. We gave Bush a chance didn't we, and another one, and he screwed up both!! So Obama can't do any worse than what we've had for the past 8 years! I'm not saying that he's going to walk on water, and I don't think anyone expects that, but geeze to not even give the guy a chance is just foolish ignorance. Disagree, I don't care, say whatever, but when you do please tell me why you can't even give the President-Elect a chance, and what the current president has done that is so fantastic!?! Obama won-NOW GET OVER IT!!!!!
Sayheykid

Greenwood, IN

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#6
Jan 16, 2009
 
Typical Cororate America at work here.. What a joke. The CEO just donated 300K of her salary, and asked her worker bees to donate then less than 6 months later she throws 1500 of them out on the street. 300K could have saved atleast 10-15 jobs and her overbloated yearly salary could have saved the rest. One unemployed wealthy CEO would hurt the economy far less than 1500 low to middle class unemployed workers will do. When all these corporate bigwigs screw things up the common worker is the one who loses their jobs. BS
Maya

Lawrenceburg, IN

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#7
Jan 16, 2009
 

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Spread the Wealth wrote:
Obamanomics at work ! Enjoy the Obama Soup Line.
Get a heaping bowlful of that Obama Ketchup Soup !
You gonna likey it just fine !
I am not sure if you did not understand article, or the concept that this economy took a downturn long before an election took place. How can this possibly be what you call "Obamanomics" when Obama is not even in office?

If anything, Wellpoint is a prime example of no regulations in the health care industry.

Wellpoint is jumping on the bandwagon of 'having to lay people off due to economy' in order to sustain their profits. Do a google search of Wellpoint and you will find a ruthless corporation trying to disguise itself as a healthcare industry that 'helps consumers'.

Wellpoint is moving across the country and gobbling up Health Insurance companies and mail-order pharmacies. That is what I would call a conflict of interest when they now can CONTROL your healthcare. This is how I got introduced to them. They obviously STUDY their client lists through the insurance companies they buy.

It is not WellPoint...they are a SickCircle, if you ever have to deal with them. Unlike what their recent claims of 'computer errors' causing them to rip off consumers, it is Wellpoint that programmed those computers to do just what the computers did.(I am referring to overcharging consumers, and keeping consumers from their prescriptions.)

They did that to me in December of 2007, after they took over the Health Insurance company I did business with.

A closer look needs to be done at all corporations and especially ones in the Health Care Industry.

One thing to note, not in this article, but very important, is the fact that all medical records will be electronic. It has many pros to it, but the major con, is companies like Wellpoint that will abuse that use of power for their profit advantage. Yes, we are a capitalist nation, but do we have to do it at the cost of people's lives?
Christy M

Middleton, WI

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#8
Jan 16, 2009
 

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Interesting...I work in a doctor's office and handle insurance billing and prior authorizations for medications and let me tell you...i am not suprised they are cutting jobs..but the reason they are giving..i am not too sure of. You see what they aren't telling you is that "alot" of the insurance companies are jacking up everyone's premiums and people cannot afford the premiums and are seeking coverage by someone else. Another thing they don't tell you is that alot of these jobs are going over seas to other countries because they can pay these people substantial lower wages compared to America. I am not singling out Wellpoint...they are all doing it..Just pick up the phone sometime and just ask your claims or prior authorization insurance representative where they are located and 6 out of 10 will tell you they are in another country.
Karen

Haledon, NJ

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#9
Jan 24, 2009
 
Does anyone know if Empire BC BS us being affected by the layoffs?
crooks

Indianapolis, IN

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#10
Jan 24, 2009
 
Wellpoint is the last insurance company that should even be in the medical business.
I imagine they're salivating at the socialist universal healthcare..........they were one of the insurance companies giving input for universal coverage.
cstreet

Salem, VA

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#11
Jul 30, 2009
 
I worked for them for almost a decade and I can tell you they are crooks. They raise premiums by pulling numbers out of the air and elsewhere, and the realized profits are paid to the executives. It's not rocket science, people.
Angela Braley was a lawyer who sucked up to Larry Glasscock, the former CEO, who golden parachuted with double digit millions. How these people sleep at night I will never know. I was a worker bee, so I don't and never did classify myself with the management who continue to profit by raping customers. The employees continue to think and act like they are in cult or dream world and are untouchable and recession proof. The pres is about to burst their bubble, so If I were them, I would start looking for another line of work.
ceo anita raise

Indianapolis, IN

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#12
Aug 1, 2009
 
Well duh, how the heck are the execs going to make payroll with their huge bonuses with all these peeon workers sucking money from what could be the executives take home pay.

The new ceo is surely in the running for the anual glasscock award! Given yearly to the person who screws the most people.

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