Healthcare Provider Update: Healthcare Provider for Cleveland-Cliffs Cleveland-Cliffs partners with Cleveland Clinic as its healthcare provider, offering a range of health services to its employees. This partnership is aimed at ensuring that employees receive quality medical care and support. Healthcare Cost Increases in 2026 As we approach 2026, Cleveland-Cliffs employees, especially those reliant on the Affordable Care Act (ACA) marketplace, may face significant healthcare cost challenges. With nationwide rate hikes projected to exceed 60% in some states, the removal of enhanced federal premium subsidies will further exacerbate this situation. More than 22 million marketplace enrollees could see their out-of-pocket premium costs rise by over 75%, driven by escalating medical expenses and insurer profit pressures. This sharp increase underscores the importance for employees to plan their healthcare budgets proactively to mitigate these potential financial burdens. Click here to learn more
'Cleveland-Cliffs employees should view rehiring opportunities not just as a return to familiar ground, but as a strategic career move to leverage experience and negotiate improved terms, especially in today's fluid labor market,' — Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement Group.
'Cleveland-Cliffs employees navigating rehiring offers should carefully assess their financial goals and career growth opportunities before returning, turning workforce shifts into a strategic advantage,' — Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement Group.
In this article, we will discuss:
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Evaluating whether to return to a former employer after a layoff.
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How companies like Cleveland-Cliffs are using technology to streamline rehiring.
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The strategic advantages for both employees and employers in the rehire process.
Many Cleveland-Cliffs employees, along with others in the energy sector, have experienced the flux of being laid off and then rehired, reflecting the unpredictable waves of the labor market. Notably, even industry giants like Cleveland-Cliffs have been part of this trend, recalling employees to navigate through the changing economic landscapes and operational needs.
The decision to return isn't merely about accepting a job offer; it involves a thorough assessment of one’s financial status and other available job prospects. Career adviser Debra Wheatman recommends that individuals evaluate their current financial health and job market opportunities to make a well-informed decision.
Gaining a bit of leverage is often a part of this process. As Wheatman points out, returning employees might have the opportunity to negotiate better terms than before, potentially leading to improved roles, higher compensation, or more stable job conditions at Cleveland-Cliffs.
However, individual stories reveal diverse experiences. For example, after a brief layoff from a marketing agency, Jessica Swenson chose to return as a contractor, finding that the flexibility better suited her career aspirations, emphasizing the growing importance of adaptability in professional settings.
Conversely, Kristie Jones, who dealt with an impersonal layoff process, opted not to return to her previous employer, moving instead into consultancy. This shift underscores a common path for many who seek independence after corporate disenchantments.
Cleveland-Cliffs is leveraging advanced technologies like artificial intelligence through platforms like Visier, which meticulously track employment records to streamline the rehiring process. This methodical approach aids in aligning qualified candidates with suitable positions efficiently, utilizing detailed data analysis [source needed].
Moreover, the corporate recognition of rehiring's advantages, such as reduced onboarding time and familiarity with company culture, is increasing. Reemployed individuals often adapt more quickly and cost-effectively, providing a quicker return on investment for the company.
The manner in which layoffs are executed is crucial, as it affects the likelihood of rehiring. Fostering a respectful layoff process helps preserve professional relationships and keeps a pool of potential candidates ready for when market conditions favor reemployment.
Matt Massucci, CEO of Hirewell, notes that the reasons behind a separation—be it performance issues, strategic shifts, or economic factors—greatly influence rehire possibilities. Both Cleveland-Cliffs and its workforce must navigate these complexities with a clear understanding of each other's perspectives.
Ultimately, the decision to return to Cleveland-Cliffs should come after thoughtful consideration of the pros and cons, influenced by the initial separation's circumstances. As the labor market evolves, such decisions are increasingly viewed as strategic career moves rather than mere opportunities.
The concept of 'unretirement' is becoming prevalent, especially among older workers nearing retirement age. A significant portion of retirees reenters the workforce, driven by the need for engagement or financial necessities. Companies, including Cleveland-Cliffs, appreciate the unique perspectives and reliability that seasoned professionals bring during turbulent economic periods.
Explore how to handle rehire proposals and draw on your experience when considering a return to Cleveland-Cliffs after a layoff. Learn from others who have navigated this path successfully and understand how your familiarity with the company can reduce onboarding challenges and facilitate a smoother reintegration.
Reflecting on the labor market's fluid nature, consider the analogy of ocean tides. Just as tides ebb and flow, Cleveland-Cliffs might reduce its workforce during downturns but also reengage skilled professionals when conditions improve. For those seasoned in navigating these shifts, it presents an opportunity to reassess and potentially return to a familiar environment, equipped with experience and strategic foresight.
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- Corporate Employees: 8 Factors When Choosing a Mutual Fund
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- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
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Source:
1. Weber, Lauren. 'The Company That Laid You Off Wants You Back. What Do You Say?' The Wall Street Journal , 24 Apr. 2025, www.wsj.com/articles/company-layoffs-rehiring-employees-2025 .
2. Cadmus, Jay. 'I Was Laid Off at 55 and Took 6 Months to Find a Job.' Business Insider , June 2024, www.businessinsider.com/laid-off-older-workers-rehire-job-hunt-2024-6 .
3. Schooley, Skye. 'Best Layoff Practices: Can You Lay Off and Hire at the Same Time?' Business News Daily , 23 Oct. 2023, www.businessnewsdaily.com/15785-layoff-rehire-best-practices.html .
4. Cook, Ian. 'Hiring After Layoffs: What Employers Need To Know.' Visier , 19 Sept. 2023, www.visier.com/blog/hiring-after-layoffs/ .
5. Fischman, Wendy. 'Rehiring Furloughed and Laid-Off Workers Post-Pandemic.' Potomac Law Group , 13 May 2020, www.potomaclaw.com/news-rehiring-furloughed-laid-off-workers .
What is the Cleveland-Cliffs 401(k) Savings Plan?
The Cleveland-Cliffs 401(k) Savings Plan is a retirement savings plan that allows employees to save a portion of their paycheck on a tax-deferred basis.
How can I enroll in the Cleveland-Cliffs 401(k) Savings Plan?
You can enroll in the Cleveland-Cliffs 401(k) Savings Plan by completing the enrollment process through the company’s HR portal or by contacting the HR department for assistance.
Does Cleveland-Cliffs offer a company match for the 401(k) contributions?
Yes, Cleveland-Cliffs offers a company match for employee contributions to the 401(k) Savings Plan, which helps employees maximize their retirement savings.
What is the maximum contribution I can make to the Cleveland-Cliffs 401(k) Savings Plan?
The maximum contribution limit for the Cleveland-Cliffs 401(k) Savings Plan is subject to IRS guidelines, which may change annually. Employees should check the latest limits for accurate information.
When can I start contributing to the Cleveland-Cliffs 401(k) Savings Plan?
Employees can start contributing to the Cleveland-Cliffs 401(k) Savings Plan after they have completed their eligibility period, which is typically outlined in the plan documents.
What investment options are available in the Cleveland-Cliffs 401(k) Savings Plan?
The Cleveland-Cliffs 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.
Can I take a loan against my Cleveland-Cliffs 401(k) Savings Plan?
Yes, Cleveland-Cliffs allows employees to take loans against their 401(k) Savings Plan balance, subject to specific terms and conditions outlined in the plan.
What happens to my Cleveland-Cliffs 401(k) Savings Plan if I leave the company?
If you leave Cleveland-Cliffs, you have several options for your 401(k) Savings Plan balance, including rolling it over to another retirement account, cashing it out, or leaving it in the plan if permitted.
How often can I change my contribution amount to the Cleveland-Cliffs 401(k) Savings Plan?
Employees can typically change their contribution amount to the Cleveland-Cliffs 401(k) Savings Plan at any time, subject to the plan’s guidelines.
Is there a vesting schedule for the Cleveland-Cliffs 401(k) Savings Plan?
Yes, Cleveland-Cliffs has a vesting schedule for the company match contributions, which means you will need to work for a certain period before those contributions fully belong to you.