CNC stock down almost -8%
Anticipate huge layoffs in summer now, upto 20% possible
26 replies (most recent on top)
@OP it’s not just Medicaid that’s being cut. This bill will also cause a huge drop in marketplace members and marketplace has been the moneymaker for a while now. The people who stay on marketplace coverage will be sick people without good options which will drive up premiums. This will affect ICHRA too as it needs marketplace policies with good competitive rates and benefits which will not be there
Ugh. The bill passed?
Do we know how much will be cut?
My work includes all lines of business, so cuts won't cut my work, but with the less members and money coming in, that could spell upcoming cuts to work force.
Just coming to breath life back into this. People tried to gaslight the op but as we said Medicaid cuts are coming.
“Oh the word must have of this particular post through the entire damn company! I've never seen a topic with this many downvotes and views!🤣”
lol…. You’ve no idea
”i believe it. in the last 2.5 years 44% of the company has been laid off.”
”13 days ago by Anonymous | 11 reactions (+3/-8)”
”Post ID: @ee+1jn1mbtkn”
data-datetime="2025-02-27T16:55:37Z"
https://www.thelayoff.com/t/1jn1mbtkn#ee
@ee+1jn1mbtkn, definitely a declining headcount, but maybe not as high in terms of percentage. Below is the headcount trend from the Macrotrends website, which “scrapes” the info from the company 10-K reports.[1] Another good link below for a simple percent decrease calculator.[2]. Lastly, the latest Centene Proxy Statement showing the CEO Pay Ratio, and Employee Median Pay of $79,507, for the year ending December 31, 2023.[3] A quit examination of the revenue and expense trends, appears to show some signs that more cuts may be needed, in my very humble opinion.
Year | Employees
2024 | 60500
2023 | 67700
2022 | 74300
2021 | 72500
2020 | 71300
2019 | 56600
2018 | 47300
2017 | 33700
2016 | 30500
2015 | 18200
2014 | 13400
2013 | 8800
2012 | 6800
2011 | 5300
2010 | 4200
2009 | 3900
[1] https://www.macrotrends.net/stocks/charts/CNC/centene/number-of-employees
[2] https://www.calculatorsoup.com/calculators/algebra/percentage-decrease-calculator.php
[3] https://app.quotemedia.com/data/downloadFiling?webmasterId=101533&ref=318198727&type=PDF#page=111
Oh the word must have of this particular post through the entire damn company! I've never seen a topic with this many downvotes and views!🤣
“@1wk+1jn1mbtkn Typing lots of words without ever making a point. I hope Caid gets cut.”
NOT OP BUT DONT HOPE FOR THAT!!! These are our members that we take care of and also our fellow working colleagues trying to make a living just like you!!! Don’t hope for that for them!!! OP didn’t submit proof so this DOES read like fear mongering with politics but SEE IT BEYOND THAT!! Don’t wish or hope for that for them or for anyone even for yourself!
Typing lots of words without ever making a point.
I hope Caid gets cut.
ANYONE could theoretically get laid off at anytime. Take care of yourself. It’s irresponsible to not be prepared financially for such a situation. So this in and of itself is solid advice that I just stated.
And the sad reality is that some folks have to be fear mongered to help our fellow humans we work with see that. Sometimes people need to hear it more than once.. And maybe they’ll end up being safe but maybe it also brings us peace of mind to know they’ll be okay until they find something else if they get let go because they prepared for it. Being complacent has burned folks very close to me. If I can help someone else avoid it, I’m happy to do so.
But…. The whole “POTUS” in your title is really screaming politics. Which is probably causing no one to take you seriously if they weren’t already on your side to begin with.
If your intentions were good… then try again. Do it the right way and it’s okay if you didn’t do it right the first time.
If your intentions were to fear monger - may you be the first to get let go.
I mean idk why I’m getting downvoted. It COULD happen. And if it does it means I was RIGHT by chance alone. So because it COULD happen people need to be prepared for ANYTHING and have at least six months of income saved up as backup.
SOLID advice. No matter how much job security you have. Get there if you aren’t there already. No matter what it takes.
That’s not fear mongering. Also I’m not OP.
Soon.
Almost.
Anticipate.
🤡
Anticipate huge clearance in summer, up to 20% off school supplies
Gimme an F
Gimme an E
Gimme an A
Gimme an R
What’s that spell? FEAR MONGERING!! 😂
WAIT!!!!!!
Hold up!!! HOLD UP! This just in!!! I got proof.
Employee 1 reports it’s in the tea leaves!
Employee 2 reports the writing is on the walls!
So it’s TRUE!!
Here we go!
Here the fu-k we go!
HERE 👏🏻 THE 👏🏻 FU-K 👏🏻 WE 👏🏻 GO 👏🏻!!!!!!
You all should not be listening or watching Operation Mockingbird.
The government is like the star of "My 1000 Pound Life." Medicaid is not going away and there is 800 lbs of other fat needing reduction.
The current administration is gutting the federal government, so I am worried about my job here (Medicaid). It doesn't look good.
https://www.foxnews.com/politics/elon-musk-says-millions-social-security-database-between-ages-100-159
Please check yourself for ignorance.
for the “fake news” and “POTUS is not cutting Medicaid” posters: your naïveté (or willful ignorance) is just embarrassing. FWA is the responsibility of inspectors general, not an unelected foreign billionaire “genius inventor” who can’t read a COBOL database and thinks there are people over age 150 getting SS checks.
i believe it. in the last 2.5 years 44% of the company has been laid off.
Fake news outlets frightening the public as always. There is tons of FWA in the program. We are long overdue for reform.
How do you know summer layoffs and “up to 20%”?
Medicaid would be cut for illegal immigrants. barring non-citizens from federal health care programs, including advance premium tax credits and Medicaid. That does not mean lay offs
How is it lying or fear mongering when it has literally been covered by every news network, and is at your fingertips if you did a simple google search?
It is true, did you not see the House budget proposal that was approved last night?
POTUS is NOT cutting Medicaid. Stop lying or fear mongering. Stock price of CNC going down has LOTS of other reasons.
Is America great yet?