Healthcare Provider Update: Healthcare Provider for Tapestry: Tapestry, the parent company of luxury fashion brands such as Coach, Kate Spade, and Stuart Weitzman, is associated with UnitedHealthcare, which is part of UnitedHealth Group. UnitedHealthcare provides Tapestry employees with a variety of health insurance options that are typically inclusive of medical, dental, and vision benefits. Potential Healthcare Cost Increases for Tapestry in 2026: As Tapestry navigates the evolving healthcare landscape, substantial increases in healthcare costs are anticipated in 2026. With the potential expiration of enhanced federal premium subsidies for Affordable Care Act (ACA) plans, many enrollees could face premium hikes exceeding 75%. Insurers are reporting a sharp rise in medical costs and have begun to implement rate increases, with some individual market plans (like those from UnitedHealthcare) requesting increases as high as 66.4%. These combined factors may significantly raise Tapestry's healthcare expenses and affect their employee benefits offerings. Click here to learn more
'Tapestry 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.
'Tapestry 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 Tapestry are using technology to streamline rehiring.
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The strategic advantages for both employees and employers in the rehire process.
Many Tapestry 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 Tapestry 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 Tapestry.
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.
Tapestry 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 Tapestry and its workforce must navigate these complexities with a clear understanding of each other's perspectives.
Ultimately, the decision to return to Tapestry 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 Tapestry, 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 Tapestry 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, Tapestry 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
- Use of Escrow Accounts: Divorce
- 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 Tapestry's 401(k) plan?
Tapestry's 401(k) plan is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are deducted.
How can I enroll in Tapestry's 401(k) plan?
You can enroll in Tapestry's 401(k) plan by accessing the employee benefits portal and following the enrollment instructions provided.
What types of contributions can I make to Tapestry's 401(k) plan?
Tapestry's 401(k) plan allows for pre-tax contributions, Roth after-tax contributions, and potentially catch-up contributions if you are over 50.
Does Tapestry match employee contributions to the 401(k) plan?
Yes, Tapestry offers a matching contribution to the 401(k) plan, which helps employees grow their retirement savings.
How much can I contribute to Tapestry's 401(k) plan each year?
For 2023, the maximum employee contribution limit to Tapestry's 401(k) plan is $22,500, with an additional $7,500 catch-up contribution allowed for employees aged 50 and older.
When can I start withdrawing from Tapestry's 401(k) plan?
You can start withdrawing from Tapestry's 401(k) plan without penalties at age 59½, although you may have options for hardship withdrawals earlier.
What investment options are available in Tapestry's 401(k) plan?
Tapestry's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.
Can I take a loan from Tapestry's 401(k) plan?
Yes, Tapestry allows employees to take loans from their 401(k) accounts under certain conditions and limits.
How do I change my contribution percentage for Tapestry's 401(k) plan?
You can change your contribution percentage by logging into the employee benefits portal and updating your contribution settings.
What happens to my 401(k) plan if I leave Tapestry?
If you leave Tapestry, you can choose to roll over your 401(k) balance to another retirement account, cash out, or leave it in Tapestry's plan if allowed.