Creating this thread to capture comments about the acquisition of Wellcare by Centene.
Wellcare appears to be taking actions already that are related to direction from Centene with staffing changes, layoffs/RIFs, etcetera.
Anyone know what’s up with the review cycle? HR has been very, very quiet.
There is 1 PHS “leader” that they missed but hopefully Centene sees through their act soon and shows them the door, too.
Yes, PHS is being cleaned up. It was an absolute sh*t show. Centene is amazed at how dysfunctional it was.
Notice how many of the senior leaders are gone now? Look for where that activity was concentrated and you’ll see a pattern. They were terrible leaders who made terrible decisions.
Pretty staggering how much the CEO and other higher ups make in managed care, dealing with Medicaid and Medicare. A million of two isn’t enough? Take the other $20M or so and put it where it belongs - keeping employees who actually know what they’re doing as well as helping people served by Caid and Care. Not lining the pockets of those who are already dripping with millions.
So glad I got laid off so MFN can make $26 MILLION a year!!! St Louis Post has him as number 1 highest paid CEO in St. Louis. How much is enough money that you have to sh– on the employees that worked hard to get you there??
FYI, the corporate marketing layoff of over 100 people is true. They have about 60 to 90 days before they're separated to get AEP and other programs going and then to turn over to an ad agency. This is so odd–Centene turning marketing over to outsiders–that you wonder what else is going on. When you add up the cuts in other operational and IT departments, is another acquisition–or a sale–on the way?
I find it interesting how Legacy WellCare people who are experienced are being let go, then new positions mysteriously appear - and who better to fill them with someone with absolutely no experience for the job. Want to keep your job? I guess kissing the a– of PHS leadership is key? Asking for a friend. It’s an absolute, bitter disappointment seeing what PHS has turned into. Good job, “leaders” - you’ve really outdone yourselves. How do you (and the people who got these jobs at the cost of more experienced people) sleep at night? How does it feel to lie to get your foot in the door? And to the poor senior leadership, how does it feel to open the door and let these things happen - especially when you were once so well respected? Have you no moral compass?
You might be interested in knowing that Centene, if this thread isn't fiction, just laid off 100+ people in the marketing department. This includes legacy WellCare people. https://www.thelayoff.com/centene
I echo the last poster. I trusted and believed in some of the upper leadership that I reported up to. I’ve now lost all respect for them. As for Legacy WC and their HR team - my department’s HR rep is an absolute joke and flat out lied. Morale is tanking on my side of PHS.
Do NOT listen to your leaders (WellCare OR Centene) on whether or not your job is safe. I cannot stress that enough. Start looking NOW, during COVID.
Folks in legacy WellCare IT let go in the last couple days. More planned and more shuffling happening.
They are definitely cleaning up PHS and the way HR and “leadership” are handling it is appalling. For the past few months it feels like a mix a shadiness and sugar coating things. People once looked up to, we are losing total respect for. HR is a total joke on the WC side.
What’s happening to California utilization
Management dept??
I came in this morning and one of the Medical Dr is no longer with PHS. Idk if she quit or was fired. I assume they are cleaning up PHS now. Good Luck to all because we really don't know what's to come.
The cuts have started again. They are not done.
Confirmed that a two leaders in Ops (VP and Sr Dir) were cut as well as a few within the team that handles member comms.
At least one leader (Sr Dir) from EPE was released as well
The IT cuts are still planned. And don’t forget, those that remain need to prep to move to North Carolina in a year or so.
I heard of at least 2 in PHS on Monday. Cannot confirm but heard there were 4 (the other two were UM). This company is tossing some good people...
Sorry to hear...which department
I was laid off today. This was my third week returning to work after having a baby.
Well, Mr. Neidorff, I hope to hell you sleep somehow at night - I was told today that my position is being eliminated. I was told like others are that we can post for other positions. No thanks. I’ve seen enough and want off this train. They did me a favor today. More time with my kid, life balance and not dealing with HR BS or having my anxieties quelled, only to be given the ax. I believe that Centene leaders are calling the shots under the guise of involving WellCare leaders. Great way to run a company, you jerks! Karma is a b*tch...
Michael Neidorff again made "The 25 Most Overpaid CEOs" list at #16 for 2020. 'As You Sow' calculates CEO pay based on company performance and shareholder return. According to this analysis, Mr. Neidorff's pay of over $26 million is overvalued by $12.5 million. BTW, the median Centene employee's salary compensation is just over $66,000.
Another factor is that financial managers of ETFs and mutual funds, such as UBS, are taking notice of CEO extraordinary pay and voting against raises.
Centene is the only health insurance payer on the top 25 and other than Regeneron at #25, the only healthcare-related company. https://www.ussif.org/files/100MostOverpaidCEOs_2020_final3.pdf CVS Health (Aetna) is #33, Cigna is #77.
So those of us who have Centene shares and are gone from the company should pay attention to our annual voting forms and vote against any further increase in executive compensation.
Already news stories about them acquiring another health plan in IL and creating thousands of jobs in NC when they aren't even done with this acquisition yet, haven't completed structure and continue to lay people off.
A lot of cuts in HR have already happened. A whole new round of people will be departing next week and in July. But from what I see in the integration and the tone they take, getting out early may be best, before the losses due to COVID really bite.
BTW, the fact that Centene uses Zoom, a buggy and hacked consumer platform, and not Webex (a business conferencing platform) is an indication of how they roll...
It’s definitely quiet, but it’s not time to relax. The HR merger in June has to happen first.
The CNC quarterly report showed they were raising earnings per share estimates. While they said it was due to expected increases in new business, they can’t bank in that. What they can bank on is hard dollar cuts to bodies.
Not able to post here for a while. Any further updates this month?
Well I was laid off in June, last week. Was told due to restructing with Healthnet your position was impacted and as of 7-2 it will be eliminated.
How many more rounds lay offs will there be?
Which positions?
Wednesday June 3rd?
I believe our positions will be eliminated on Wednesday. I pray for one fellow employee that he doesn’t lose his jobs b but get offered a different position. A friend shared this outside of WellCare.
PwC is a business consultancy. They are there to reorganize and tell them how to downsize. That's what they get paid for. So beware!
From what I've seen, Centene is a confusing and bureaucratic mess and they bought another confusing mess in WellCare, so they brought in a high paid consultant group to make sense of it all.
I'm supposed to exit end of June and the unit I serve hasn't figured out how to plug and play out my job yet (which isn't going to work, but that's their delusion). The more I see, the happier I am to exit. 4 weeks and counting...
What is PwC? What does that mean?
There are still many areas just now engaging with PwC. You know what that means.
COVID has really slowed down the RIF process. The goal hasn’t changed - only slowed down.
Any updates? It's almost june
There is a group that was notified in January that their positions will be eliminated end of June. Whether they will have a severance extension for 6 months as in the March group is not yet known, but I personally do not consider it likely.
That will be one part of the layoff group.
I've also heard that there's a group that goes to end of 2020 before their positions are eliminated. Will they be moved up? Who knows?
I hope there won't be others, but if you start hearing about payers reducing staff, certainly Centene will as the increased utilization and expense will begin to bite end of Q2.
Yeah, I heard from a good HR source that a big layoff is gonna hit us in June!!
Is covid the reason for delay in cuts? Are these expected before June?
Cuts are already planned. The timing is off at the moment for obvious reasons.
FTEs have reason to worry but that will be a planned event that HR is already working on. It's essentially a done deal but the timing needs to be right.
Contractors in many groups need to get looking for their next opportunity right away. It doesn't matter what your contract end date says or what your boss keeps telling you - get with your recruiters now. Centene isn't up for paying the higher contract rates like WellCare was so you will see that model decrease in use.
Some reductions are definitely expected as part of organizational changes
And you wonder what will happen after this emergency wraps up. Will cuts come back with a vengeance?
Yes you’re absolutely right , it was nice but in the end we are still stuck without jobs in this uncertain unstable market :-(
I believe that they only extended it because it’s in their best interest right now. Don’t believe for a second that you’re anything more then an expendable item on a balance sheet.