Centene will be distributing bonuses on the check of 3/26/21 and raises will reflect on the 4/2/21 check ,My question is how can a company scream to be losing money 12 million and cut 3000 jobs and freeze 1500 posted position and not freeze raises and bonuses, now mind you I’m very happy to see those folks that’s still on the clock receive this increase and reward for all the work they put in God bless us all.
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People have a right to feel the way they do. Vent it. Express it. I know I did many many times. I don't think anyone here is playing a victim. They feel a certain way. The rug was pulled from them and they need time to process that. If you have constructive feedback then supply it. I'm sure it's appreciated. But the last thing people need is to be labeled a victim.
For the poster down the line who got downvoted...he (or she) has a realistic view of business and how Centene is conducting itself. Stock options exercise themselves on a due date, and these options come to you with a hefty tax bill, or they may be the type that you have to buy. Again, MFN could, at this difficult time for all payers (read the healthcare trade websites), turn back all salary but a token $1 and encourage other top management to take their own cuts. That would be leadership and leading from the front....don't expect it.
There IS a lot of victimhood on this board, but better that you blow it out here than keep it in and take it out on yourself. That being said, leave it here, learn from it, and move forward. I've offered action advice on other posts. Another thing you can do is join a work search group, get support, and keep moving. Your personal work in finding a new job is your best therapy. Think of yourself as YOURNAME, Inc. plan and work your Plan A/B/C/D from there. It's hard out there–you'll face much rejection–but not impossible. Good luck to everyone.
I guess the bonuses were for top management...I sure didn't get one. Even though it was in Centene's newsletter
I guess I'm not an elgible employee.
The $58M cited included the exercise of stock options by MFN. The $26M is straight salary.
Understand that either number is like jumping out of a window in a tall building. Does it matter if it's from the 50th floor or the 25th?
The logic behind awarding raises and bonuses (STI and LTI) is to keep the top management happy and the higher-level workers in the corral. However, other companies in similar circumstances have foregone those for the SVP/VP level up, even cutting salaries and comp at that level. Not happening here.
MFN could well afford to take a $1 salary and turn back the amount plus his bonus to the company to mitigate future layoffs. It would show positive leadership. Water under the bridge, as the current layoffs are done and gone, but again it would lead by example. Again, not happening here.
Yep, that’s the stuff! You illustrate my concerns perfectly.
My comments are anything but veiled. People are capable of holding more than one feeling at the same time; I assure you my sympathies are genuine, as is my dismay at the crazy BS people put on this board.
There were some very personal vendettas from management regarding the people most recently laid off. They kept their inept friends and let go of valuable employees, which neither they or their friends are. So yes, unless you were part of this layoff, nobody needs your veiled comments that are anything but sympathetic.
I’ll take you up on that and go away - the childish, paranoid rants on this site read like tweets from *45. Layoffs are a hard fact of life and indulging fantasies of “greedy corporations out to get me personally” doesn’t do any good that I can see.
Don't talk about being heartsick in the same breath you are looking down at the "victimhood" on this board. Go away with your oxymoronic sympathy!
1) I didn’t defend the salary but corrected the (very) wrong # - we should deal in facts. 2) I survived this very thing in 2017 so way to assume. 3) friends and acquaintances I’ve known at Centene for 15+ years just got RIF’d and I’m heartsick. 4) acquiring healthnet, wellcare, and Magellan is not free. No I wasn’t “part of the problem”, I just have a realistic world view.
It was even better when the Patel's owned it!
Clearly if Poster ID: @2gqj+19YQDh90 can defend the highest paid CEO's salary in MO versus having empathy for the 3000 people laid off, and removing 1500 job postings in the middle of a pandemic, when the company made more money than ever in 2020, didn't personally get laid off. They seem to have intimately been part of the problem, not the solution. This company has always been reactive rather than proactive and could have reworked jobs to better fit what needed to be cleaned up if they had strong leadership all the way down. Issue is they do not. So don't get on here and complain this is "business". It was pure and simple inept management and greed.
MFN’s total compensation was $26.4M last year, not $58M. The company isn’t “playing with people’s lives”, it’s doing business in America. All the victimhood narratives on this board are so tired.
They are evil and what goes around, comes around
Company just plays with people lives.
And dont forget, a CEO that made $58 mil last year.