Thread regarding Centene Corp. layoffs

@cn What in the actual fu-k are you smoking ? 21000 applied for vsp ?????

@dm I’ve heard this from my PL as well..nobody was denied.

@cn no idea where you're getting your information from. the updated FAQ on the VSP site clearly stated that ALL VSP applications were accepted and they chose to not decline any.

@cy I worked for a health insurance company that tried the offshoring of tech jobs etc. They fell flat on their face. The member and provider complaints became overwhelming. Not to mention the quality went right out the door. It’s all about the money. They don’t care about their members or their employees.

I worked there for a little less than 2 years. One of if not the most disorganized, dysfunctional companies I've ever seen. Great people but total redundancy in systems and functions. Constant reorgs and movement within leadership roles. I am happy to be gone. I have no idea who else got let go because my access was cut off within minutes, but I know of my team of 7, 5 were let go and the other 2 moved to yet another team.

@OP Also, there is a recent article where they inked a $500MM deal with Cognizant. So the movement to off-shore is a real-thing. Most tech folks went through this 15 years ago and the companies realized it was a losing plan - I guess SL and team think they can do it better. But no, it will eventually fall flat on its face too. In software and operations, quality matters, not just saving dollars on the bottom line.

VSP
21,000 applied for the VSP.
4/5 applicants were accepted.
= 16,000

ISP
I am not sure of the number on this one.

But what we do know is that for the VSP, the employees, or many, are being requested to retain their position until 2027/2028. Why? Because of the ISP, Centene has already begun to replace your position with a middle-easterns. Yes, your positions are being advertised and wanted on international websites. Go to the Centene Layoff thread and select Admist Layoffs. Much information there. So, the VSPs (vespers, I have bee calling them), are being retained to train and guide the transition from American jobs to middle-eastern jobs. Centene will pay them 1/2 annually what they pay us.

See your around the OEP → the next round of layoffs.

Hope this helps!

@ah OP here. SL clearly stated that 4 out of 5 people who will be moving on from Centene are part of the VSP. this meant involuntary RIFs were still happening and they clearly did and still are.

we still have zero insight on what the total reduction will be. we are all still trying to figure that out. those of us who remain will be losing important business partners.

@ah No. SL stated 4 out of 5 of the total number who are leaving the company are doing so voluntarily.

Our department VSP and ISP reductions around 25%

@OP Wasn't 4 out of 5 Centeamers it was 4 out of the 5 that were offered the VSP. Not every single person in company was offered the VSP. I did an AI query on Monday (since they want us to use it so badly) and based on pulic filings from the company and so on, the VSP acceptance is a guesstimate of around 1600ish? They still needed another 20% beyond that so a total of somewhere between 2 - 3 thousand total of all 61,000 employees needed to be let go. But, remember AI can have hallucinations.

@ae they are not done for the year. And no they cannot function without those employees, but they are going to try and not with American workers. With outsourcing and ai

@ae the person who shared the 4900 implied this was ISP. we must also remember lots of people who accepted VSP have separation dates through the end of next year.

If it is indeed 4900 gone, that is 8% of the workforce and not 30%. Centene wouldn't be able to function with 30% RIF. I did hear from confidential sources that 4 out 5 were VSP. In other words 80% took VSP, 20% ISP

@a9 the rumor of reducing headcount by 30% is true, this is the target. HP higher up slipped it in during a dept meeting. They do not want workers anymore at least not American ones

In the early days of the VSP announcement, there was a Reddit thread where someone claimed to be in the actuarial department and said that they overheard that the goal was a 30-40% in total employees. It is an unconfirmed rumor, but it does put us in the ballpark of 25k being let go.

I was always more concerned that they were offering a VSP for the first time in company history, telling 90% of staff that they were not essential to continued operations, and that they would still be doing a RIF afterwards. It certainly wasn't going to be the normal annual 2000ish people restructure. I hope they give us the real numbers soon.

@a7 Seek help.

@a6 you heard wrong shut up.

@OP I had heard 10k took VSP which would mean 2500 layoffs if the 4/5 statement was accurate.

@OP but they’ll probably still say 61k employees and “28 million members” in their job postings.

How are these mo--ns running a Fortune 25 company and why are people investing in their stock? I see some institutional investors are wisely getting out, but there’s no way in he-l I’d have a dime of my money tied up with these absolute BOZOS running Centene.

Crazy numbers. Roughly 10% took VSP - so 6k. Another 1-2k will be let go on top. If i was a better - we will be 52k by Dec 2026 end.

@OP 365M-405M budgeted for severance packages
Average severance cost ~$380M would represent
$40,000/person ~9,500 people
$60,000/person ~6,300
$80,000/person ~4,750
$100,000/person ~3,800

@OP I don't know how accurate the 4900 number is..... but if true, and approximately 20,000 employees voluntarily left..... that is even more disturbing, and speaks volumes about the company and the workplace sentiment. I wonder how many more are just buying time and are looking for other opportunities (escape route). There is no security or loyalty at Centene.