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Centene Offers Buyouts to Employees, Job Layoffs Could Follow
Bloomberg • • business
Key Points:
- Centene Corp. plans to offer buyouts to most employees as part of a cost-cutting effort following a significant decline in membership in its health insurance plans over the past year.
- The voluntary separation program will allow employees to apply, but participation is not guaranteed or automatic, according to a company spokesperson.
- Centene had 61,000 employees in the first quarter, though the company has not disclosed the specific workforce reduction target.
- If the voluntary buyouts do not achieve the desired reduction, Centene may proceed with layoffs to meet its cost-cutting goals.
