Can anyone explain to me why all the job openings are on hold if the quarterly results were good? It doesn't make any sense to me. I’m interested and I’ve seen someone else mention it here as well.
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Answering the question from the OP: Quarterly results were not bad, but CNC missed earnings per share estimates. That’s bad. That means CNC was predicting a certain amount of profit based on their analysis of opportunities and it didn’t work out. Maybe expenses were too high or maybe we didn’t see the volume or win the bids we expected to.
Either way, it’s a bad look for CNC and it’s no surprise that they suddenly switched CFOs after that last earnings report.
Wall Street is starting to doubt CNC’s ability to reduce costs and integrate all of its acquisitions. The only lever they’ve been able to pull is to cut jobs. However each time they pull that lever it gets harder and harder to get the results they want.
When your focus is on reducing costs rather than integrating, it’s a sure sign. that you’re for sale. Don’t let the NC thing fool you - they’ll pull out of that in a heartbeat.
Post ID: @1uii+1b0RPoq4 some of those positions at Corporate are on hold. Not sure what office you are in.
Positions like grievance and appeals, program coordinators, business analyst, provider quality liasions, provider data management is not on hold. Their departments are hiring and interviewing left and right for coordinators, specialist, and management.
Those were my thoughts as well. Seems they are preparing to move the bulk of things to NC. They are still planning what that looks like. Right before my layoff in March, a few of the positions were closed, because they were no longer being filled.
I wonder the same. I guess definitely there will be a large layoffs and re-org before they decide to release the needed jobs from hold