Job security is a thing of the past at Centene. Most of us will find our name on a layoffs list sooner or later. Now is the best time to start looking for an alternative. After all, it’s ten times easier to find a job when you already have one than when you don’t. Just a piece of friendly advice.
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Layoffs will continue to happen. MFN said that restructuring would continue on the year 2020 earnings call which kicked off the last layoff. Even if Q1 earnings per share (EPS) and profit beat Street expectations, they WILL continue. Long term, Centene is considered to be undervalued and as such either has to acquire further, exacerbating its problems, or start selling itself as a whole or in parts. When you have a 75 y/o CEO without a clear successor, what does he do as a grand finale?
You are correct. Had I known that I would have been part of this last layoff I would have been looking prior to that happening. If I worked for Magellan, I'd be looking now before the merger takes place. There is a lot of overlap between their products and legacy CNC. Only non–overlap is their specialty radiology company; NIA. It's a nightmare working for a company that lets you go for no particular reason than after working hard for them, you are making a decent salary and they want to hire someone in at a lower rate (doesn't matter they don't know how to do the job). This last layoff had no bearing on knowledge, experience or your value add to the department.