I got a notice today one of my contractors is gone and there no documentation on what they did. I assuming green badger will be first to go and than blue badger. I also reach out to the contractor and they said there a budget cut
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The company has over $30 billion in reserves With AAA credit ratings. They are in no way strapped for cash.
The reason belts are being tightened is cash is needed to service the debt associated with the debt incurred to buy Cigna.
The question is will they be tightened so much it impacts the annual bonus?
They issues a bond to pay for the Cigna MA business. The cost reductions being pushed for now are because the margins on govt programs are tighter than expected.
What is the green badges?
They don’t need money for the acquisition. The company is in good shape there. They’re saving money thru admin expense reductions and yes likely contractors first.
Budget Cut is the term being used this time around.
Yeah, green badges going is why they do green badges in the first place, so they can shed them when needed.
Hcsc isn’t super affected by economic cycles. Exec’s admin savings goals have heat on them. Green badges are the first to go. Happens all the time
Not sure it’s due to needing money for the deal but rather the economy itself. Federal government is just now recognizing that the economy wasn’t as hot as they thought and they over-corrected. Guessing HCSC (and other firms) already knew this so they made their adjustments.
When there is a budget cut first it will affect contractors. They need money for Cigna acquisition.