Centene Corp. is cutting about 3% of its workforce as the health insurer reduces costs amid a multiyear plan to boost profits.
(Bloomberg) — Centene Corp. is cutting about 3% of its workforce as the health insurer reduces costs amid a multiyear plan to boost profits.
The cuts will affect about 2,000 people, a company spokesperson said Tuesday.
Centene is trying to improve quality ratings in its Medicare business. It faces shrinking membership in its Medicaid plans as states resume restrictions on eligibility that were suspended during the pandemic.
Chief Executive Officer Sarah London has been focusing on streamlining the St. Louis, Missouri-based company. Centene has been selling ancillary units to focus on its core business of managing government-sponsored health programs, including Affordable Care Act plans.
Centene shares closed down less than 1%. News of the layoffs was reported earlier by the St. Louis Business Journal.
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