Centene could take $4B hit in California, but CEO Sarah London sees no 'structural issue'…Headline from St. Louis Business Journal. How does our CEO say there is “no structural issue?” Hasn’t she made the decisions along with the CFO to eliminate and lay off entire departments which supported innovative programs that were promised to State Governments when business was awarded? I see no evidence that the company is going to honor any of those promises. In fact I think Sarah London is going to lay off even more employees in critical roles. I am afraid the $4B loss in revenue means more layoffs. Anyone else?
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Yea it’s true I was just laid off in august 2023 because of reduction in force and I been w the company before it was even centene it was healthnet for almost 7 years and now Sarah took over and I’m being laid off from my position I was promoted to last year!
Stock is down 20% as Centene corruption in RX continues to play out, Medicaid contracts continue to be lost state after state and CIO and CTO continue to blunder their way through the night.
More layoffs are absolutely coming as Centene continues to lose Medicaid contract after Medicaid contract. We are all watching Anthem, now Elevance, and UHG, go directly after this market and because they are innovating and not just keeping the lights on like that id--t Mark Brooks and that id--t Bruce Lee, Centene market share is shrinking. Will be below a fortune 100 company before the next year is over. Expect layoffs of 10-20k as market share shrivels up due to huge leadership mistakes.
I would be concerned. That’s a huge impact to Medicaid.
Health insurance giant Centene Corp. has agreed to pay $165.6 million to Texas to resolve claims that it overcharged the state’s Medicaid program for pharmacy services.
It’s the biggest known payout by the nation’s largest Medicaid insurer over its dr-g pricing practices.
HealthNet rancho as well. Bet they lay of people and give the jobs to cts .
Absolutely. Health Net employees in Woodland Hills should be on the lookout.
Stock is down over $7! What is happening?
Karma comes around to get people who play the kind of games this company has and continues to do. I'd make sure my resume was up to date. As part of the 3000 laid off last year, I can only say how you treat people will always come back to bite you sooner or later.