Did you see the headlines...centene lays off 3000 people and stock prices rise. Company makes money off exchange and medicaid business. Who knew there was so much money to be made off the poor and low wage earners. How many executives vs lower waged workers were cut, to face unemployment and join the exchange...wait centene makes more money ....I see now the large corp agreed. People. We got to wake up. This is a game and we all pawns while the super wealthy get richer. How much money does one CEO really need to make...
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1) VP makes a financial commitment, without doing any real analysis.
2) Hire offshore for IT to cut development cost
3) Solution doesn’t really save much money
4) Hire offshore business to replace onshore; claim system is easier to use, therefore cheaper labor can be used
5) Met financial commitment by wasting money and causing the communities that the company serves to be without healthcare
6) Big bonus for doing a terrible job
The cycle continues next year. May be new VPs, but the old VPs already cleaned house so who cares.
I’m not against offshore, who wouldn’t take that opportunity. It’s great for them and their communities. Corporate greed has simply gotten out of control and is hurting the community it serves.
Medicare for all even if we all lose our jobs !!! This way we can at least make sure this greedy selfish company can finally be put to rest !!! Open your eyes and realize everyone is replaceable and not one member of their millions of members mean anything to Centene !!! Employees and members will always be just a number !!!! No we are not numbers we are all humans and this needs to be put to an end !!!! VOTE to make sure we can get leaders who will end this money making machine !!! I rather pay higher taxes and be out of a job to make sure we all have access to the healthcare we deserve and need instead of it being such a lucrative business !!!
Looks like more layoffs. Wall Street just not pleased with performance. Normally with a huge layoff the stock should skyrocket like other companies. WallStreet is not impressed when you layoff talent.
Shares of Centene Corp. CNC, -1.28% slipped 1.28% to $59.20 Friday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX, +0.47% rising 0.47% to 3,934.83 and the Dow Jones Industrial Average DJIA, +0.09% rising 0.09% to 31,458.40. This was the stock's second consecutive day of losses. Centene Corp. closed $15.50 short of its 52-week high ($74.70), which the company achieved on April 17th.
The stock underperformed when compared to some of its competitors Friday, as Anthem Inc. ANTM, -0.74% fell 0.74% to $290.68, Humana Inc. HUM, -0.14% fell 0.14% to $380.64, and Molina Healthcare Inc. MOH, +0.01% rose 0.01% to $216.28. Trading volume (3.1 M) remained 807,679 below its 50-day average volume of 3.9 M.
Nothing new here: greed is good. CEO is in his last legs to boost company's shares at any means (smoke & mirrors) to grab as much money as he can for his future generations. Internal moral is very low, nobody know what is going on, a complete mess, delusional business plans to grab new customers with a lot promises and zero services at every level, doctors, members, brokers, you name it, and of course employees at low wages. Executive personnel are just taking advantage of disorganization to grab promotions and leave everybody hanging on the line and start all over again, no winners here, just few and no even the shares are benefit from this, only volatile to invest in companies with no direction, just pure greed. No enough space to write what a mess is Centene / Wellcare. This company is all about promises, zero delivery and lot greed, they do not even invest enough money in efficient technology to handle 50,000 employees and 20 millions members, at the end, only members, employees, vendors will suffer dealing with companies with zero sense of responsibility, customer service and sense of decency, welcome to the new world order!
I'm sorry, are you new to America?