UnitedHealth Group Limits Employees’ Raises to 2% This Year

UnitedHealth Group Inc. limited employees’ raises this year to between 0% and 2%, based on performance, according to a person familiar with the matter.

The meager compensation increase comes as the company recently told an unspecified number of workers they were being laid off, the person said, asking for anonymity because the matter is private.

A UnitedHealth representative declined to comment.

The conglomerate operates the largest US health insurer and a sprawling network of care services. It’s trying to cut operating expenses, shrink its footprint of clinics, and bolster flagging profits in its health plans and medical groups. UnitedHealth’s outlook ...