So I hear that late Medicaid payments caused a Q4 loss of $500 million - yet Centene still beat its Wall Street earnings projections despite. Do you think this will be used as a justification to layoff more people?
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The real crime are the states that we knowingly submit claims to that have errors and bad information intentionally. This somehow buys time to avoid penalties and basically Centene normal claims submission to states policy. Has anyone bothered with the escapades in the Kentucky claims and encounters? Its a joke thats flown under the radar yet you want to complain that Trump is looking at federal spending? Really, youre a fraud to participate and ignorant looking the other way.
Even profitable companies cut jobs. Companies with billions in the bank, announcing record profits one quarter and layoffs the next. Companies don't just do layoffs when they are struggling. They do it when the stock price needs a boost, management wants to restructure, shareholders demand higher profits. Your job is never truly secure. Nothing is going to save you. Live like you might lose your job tomorrow.
The stock price justifies layoffs!
You are absolutely right. Texas is not the only at will state. The point is that in Texas, and all those other at will states, they don't need a reason to "justify" laying people off. They do it because they can and don't need a reason behind it let alone needing to give anyone an explanation.
Does that make it right? Of course not. We all know people are lining their own pockets off the backs of all the employees they're sc--wing over left and right but the reality is, justification or not, they're going to do whatever they want. Greed does that to people.
You do realize that most states are at will and that Texas is not the only state and the USA is not the only country Centene has employees right? It doesn't matter if they are at will or not - OP was asking if Centene will try to use it as justification to save face and avoid bad PR with yet another round of layoffs.
Since 1888, Texas has been an at-will employment state. As an at-will state, employment in Texas may be terminated by an employer or an employee for a good reason, a bad reason, or simply no reason at all, absent a specific agreement to the contrary.
If you are making to much money and you are older they lay you off. Can't proof it is because of age do to Centene will keep one person per department that is older. But it is a money thing. they rather higher unexperianced employees and spend money on training than keep the people who know there stuff.
They don’t need justification, they just make it up.
Yeah...unfortunately 3.3 billion dollars in profit for 2024 isn't enough to stabilize the company
https://www.beckerspayer.com/payer/centene-posts-3-3b-profit-in-2024.html?origin=PayerE&oly_enc_id=3581B4213356A5X
Yep. Bend over and smile. It’s going in dry.
Absolutely, they’ll use any reason they can to let people go