Healthcare Provider Update: Mastercard's healthcare provider is Aetna, which offers a variety of health insurance plans to its employees, including comprehensive coverage for medical, dental, and vision needs. As we look ahead to 2026, significant healthcare cost increases are on the horizon for many Americans participating in the Affordable Care Act (ACA) marketplaces. Preliminary estimates suggest that average premiums could rise by as much as 18%, with some states experiencing hikes exceeding 60% due to the expiration of enhanced federal premium subsidies and ongoing medical inflation. This perfect storm of factors is likely to push out-of-pocket costs for policyholders sharply higher, creating substantial financial pressure for millions who rely on these plans for their healthcare coverage. Click here to learn more
'Mastercard 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.
'Mastercard 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 Mastercard are using technology to streamline rehiring.
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The strategic advantages for both employees and employers in the rehire process.
Many Mastercard 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 Mastercard 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 Mastercard.
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.
Mastercard 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 Mastercard and its workforce must navigate these complexities with a clear understanding of each other's perspectives.
Ultimately, the decision to return to Mastercard 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 Mastercard, 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 Mastercard 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, Mastercard 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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- 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 401(k) plan offered by Mastercard?
The 401(k) plan at Mastercard is a retirement savings plan that allows employees to save a portion of their salary on a pre-tax or after-tax basis for retirement.
How does Mastercard match contributions to the 401(k) plan?
Mastercard offers a matching contribution to the 401(k) plan, typically matching a percentage of employee contributions up to a certain limit, helping employees maximize their retirement savings.
Can employees at Mastercard change their 401(k) contribution amounts?
Yes, employees at Mastercard can change their 401(k) contribution amounts at any time, allowing them to adjust their savings based on their financial situation.
What investment options are available in Mastercard's 401(k) plan?
Mastercard's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to help employees diversify their portfolios.
Is there a vesting schedule for the matching contributions at Mastercard?
Yes, Mastercard has a vesting schedule for matching contributions, meaning employees must work for a certain period before they fully own the matched funds.
How can employees at Mastercard access their 401(k) account information?
Employees at Mastercard can access their 401(k) account information through the company's employee benefits portal or by contacting the plan administrator.
What is the minimum age to participate in Mastercard's 401(k) plan?
Employees must be at least 21 years old to participate in Mastercard's 401(k) plan, in accordance with federal regulations.
Are there any fees associated with Mastercard's 401(k) plan?
Yes, there may be administrative and investment fees associated with Mastercard's 401(k) plan, which are disclosed in the plan documents.
Can employees take loans against their 401(k) at Mastercard?
Yes, Mastercard allows employees to take loans against their 401(k) balance, subject to specific terms and conditions outlined in the plan.
What happens to the 401(k) plan if an employee leaves Mastercard?
If an employee leaves Mastercard, they have several options for their 401(k) plan, including rolling it over to an IRA or a new employer's plan, or cashing it out, subject to taxes and penalties.