Thread regarding Centene Corp. layoffs

Centene Q4 22 loss topped $213 million

https://www.fiercehealthcare.com/payers/centene-posts-213m-loss-even-revenue-grows-q4

Revenue up, profit down. "For full-year 2022, Centene reported $1.2 billion in profit, down from the $1.3 billion it brought in during 2021. Full-year revenue jumped, however, reaching $144.5 billion. The company posted $126 billion in revenue for 2021."

Looks also like Centene is divesting a lot of the MFN dog's breakfast of acquired businesses such as Magellan, and foreign healthcare except for the controversial UK move into GP practices with Operose Health.

Personally, as a former employee, I want to see a big gain in share price. Right now London is not getting that done.

by
| 2171 views | | 4 replies (last March 1, 2023) | Reply
Post ID: @OP+1l4clxMA

4 replies (most recent on top)

London will be gone if she doesn't get the business cleaned up and the share price up. Alternative for Politan is selling the company in pieces, such as Magellan Specialty Health to Evolent. The crime situation in St. Louis may also force a relocation, which means layoffs, severance writeoffs, and a downsizing.

by
| | Reply
Post ID: @mvkn+1l4clxMA

London has done nothing ... except oversee the stock drop to below the Politan buy price. Time for her to go....

by
| | Reply
Post ID: @mipd+1l4clxMA

bonus pool was up this year - 116% vs. 90% last year

by
| | Reply
Post ID: @2nln+1l4clxMA

Curious to know how this impacts bonus payout for 2022 performance. Haven’t heard anything yet.

by
| | Reply
Post ID: @1wlh+1l4clxMA

Post a reply

: