Principal to Cut Jobs
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    Last edited by cyfanatic; 09-30-2010 at 11:27 AM.

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    Re: Principal to Cut Jobs

    Linky no worky



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    Re: Principal to Cut Jobs

    I almost took a job in that area a couple years ago. Whew!



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    Re: Principal to Cut Jobs


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    Re: Principal to Cut Jobs

    It has been removed.

    Well, here is one about the Ocare Impact:

    McDonald's Says It May Drop Health Plan - WSJ.com




    Last week, a senior McDonald's official informed the Department of Health and Human Services that the restaurant chain's insurer won't meet a 2011 requirement to spend at least 80% to 85% of its premium revenue on medical care.
    McDonald's and trade groups say the percentage, called a medical loss ratio, is unrealistic for mini-med plans because of high administrative costs owing to frequent worker turnover, combined with relatively low spending on claims.
    Looks like all fast food will be in the same bucket.


    Let my Fred's Posse Ride: Georges, Naz, Hogue, Bryce, Nader, Monte, Matt, and McKay.

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    Re: Principal to Cut Jobs


    Looks like they will not be hiring anyone soon. If the profits (even 1%) will not exist in medical insurance, the companies will leave that area.

    After all, why risk a company/business when you have a 1% profit industrywide??? The govt will eventually own the industry as a single payer. Hope the govt then does not go bankrupt or otherwise their goes the medical bill payments.


    Last edited by Wesley; 09-30-2010 at 11:36 AM.
    Let my Fred's Posse Ride: Georges, Naz, Hogue, Bryce, Nader, Monte, Matt, and McKay.

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    Re: Principal to Cut Jobs

    Well sob, have a job interview there next week. Looks like I will be double thinking about taking it



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    Re: Principal to Cut Jobs

    Quote Originally Posted by cjb1978 View Post
    Well sob, have a job interview there next week. Looks like I will be double thinking about taking it
    Well, it your interview was with the health insurance division, I doubt it is still on. If it is elsewhere within the company ,why would this news matter? In fact, if they are getting rid of unprofitable business unit that is currently (or projected in the future) to drag the entire corporation down, wouldn't this generally be good news for those working in other parts of the company?


    CCG

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    Re: Principal to Cut Jobs

    Quote Originally Posted by capitalcityguy View Post
    Well, it your interview was with the health insurance division, I doubt it is still on. If it is elsewhere within the company ,why would this news matter? In fact, if they are getting rid of unprofitable business unit that is currently (or projected in the future) to drag the entire corporation down, wouldn't this generally be good news for those working in other parts of the company?
    Mostly I was looking there as the health benefits being one of the main pros of taking a job there.

    It is with the Individual Life group within there.



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    Re: Principal to Cut Jobs

    Quote Originally Posted by cjb1978 View Post
    Well sob, have a job interview there next week. Looks like I will be double thinking about taking it
    All I can say is wow. Did you even read the article, before you came to this conclusion?

    What would Principal cutting their medical insurance DIVISION, have anything to do with their life division?

    They are NOT cutting their medical coverage for employees, they are getting out of the medical insurance business.



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    Re: Principal to Cut Jobs

    Quote Originally Posted by cjb1978 View Post
    Well sob, have a job interview there next week. Looks like I will be double thinking about taking it
    No wonder the company has to cut jobs if this is the quality of interviewees they're going to bring in


    read this post quickly - it might not last long

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    Re: Principal to Cut Jobs

    Quote Originally Posted by acgclone View Post
    All I can say is wow. Did you even read the article, before you came to this conclusion?

    What would Principal cutting their medical insurance DIVISION, have anything to do with their life division?

    They are NOT cutting their medical coverage for employees, they are getting out of the medical insurance business.
    I am talking from a cost benefit point of view.

    Meaning if Principal cuts their health benefits from providing their own to assigning this duty to an outside vendor then the costs will go up for the employees of Principal.

    So in short, the cost of benefits is going up for the employees and any new people coming on board will have to offset this cost to them by asking for more money per year.

    Quote Originally Posted by Cyballz View Post
    No wonder the company has to cut jobs if this is the quality of interviewees they're going to bring in
    No it is called looking at the bigger picture.



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    Re: Principal to Cut Jobs

    Quote Originally Posted by cjb1978 View Post
    No it is called looking at the bigger picture.
    That's probably a pretty good call; it seems like principal is laying off 100+ employees on a regular basis



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