BBB just passed. We are cooked.
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@zm well I guess it depends on your position. I was also laid off this year and got 2 weeks of pay for every year worked plus 2 additional weeks. Subsidized health insurance for 6 months. The job assistance for 2 months was a joke.
@kd I was laid off earlier this year. Obviously I’m speaking just to my own experience, but I got 3 months of severance for every year of tenure, 2 months with a job coaching agency (not really impressed), and my cobra premiums were subsidized by the company so I was still paying the same amount as a current employee for 3 months.
I managed to land on my feet and find a new job within a few months, if that helps to hear.
The company is currently “on sale!” So anyone that might be looking to buy is would get a big discount right now. Just sayin’..
@wj I totally agree. For most, hate overwhelmed their common sense. For some, it was greed. they fell for stupid lies "he's a successful businessman" thinking they are gonna get rich if he is elected. How's your economy doing now??
@ah I can't imagine working with id--ts who voted for this nonsense. I imagine they are filled with hate in their hearts
Centene got caught with its pants down so to speak. The risk adjustment data just further proves centene is full of phantom contracts #fraudtene
For context, beyond Worldcom and Enron, I cannot recall a Fortune 500 company losing roughly half of its value in the course of a week. I am struggling to find the upside here.
@d4 This has little to do with the CEO. Centene operates largely in two arenas…Medicaid and Marketplace. Both are coming under fire by this administration. We now know what the BBB will do to Medicaid. As far as the Marketplace or HIX, highly likely that the subsidies will be rolled back, leaving fewer, sicker members driving up costs. Where does Centene pivot to?? Looks like to me there is no place for them to go.
anyone have insight into typical severance package offerings?
just curious regarding expectations of what might be offered when this all flushes out.
We were cooked by Sarah London before this Bill. She is a crook who did insider trading. She is the main reason why there will be widespread layoff.
@OP Plus the 2025 Marketplace Risk Adjustment Update shared this week. Growth not at anticipated levels, higher level of morbidity among members. Centene now pulling back to reevaluate 2026. All very unsettling.
@OP It actually looks like we were cooked before the passage of the BBB, which could well be the proverbial final nail in the coffin. Not necessarily a fan of Cramer on CNBC, but catch the 9+ minute version of his take on this if you can. Explains exactly what went so terribly wrong for Centene and the rest of the sector. But yeah, in short, Centene is cooked. They are in a death spiral now.
@ah If only!
The irony is most of the people on my team voted for this. They actually voted to put their own job in serious jeopardy. When the eventual RIFs occur, this should be factored in to the decision process on who gets the boot.
Yup, healthcare crash incoming. 20% at minimum, which is a crash by market definitions.
It's not the end of the world, but you can see it from here.