Thread regarding Gainwell Technologies layoffs

Glad I left Gainwell when I did 2.5 years ago. Having been forced to WFR people that were billable and extremely talented, it was time for me to leave. Main goal for senior execs from Gainwell/DXC/HP whatever...cut costs at any cost and hire cheap labor from cheap labor U.S. locations and get a huge bonus. Rinse and repeat for years. No raises and no bonuses. Clients didn't know what hit them until it was too late.

I can say I was part of this week's WFR. My last day is tomorrow. There are a lot of opportunities in the market, but if more Gainwell lay offs happen the Medicaid market will get thinner and thinner. I have a ling medicaid career, so I am hopeful to land on both feet.

We all need to be prepared for the worst. And all the layoffs so fare aren’t it. Things are going to get worse. More accounts are being lost. Leadership can’t manage the situation. And they are wasting money like a bunch of id--ts. Cash reserves have been depleted. Bankruptcy is not far off. We will be operating in the red soon.

@4cmg+1p8tAzKr

I won't ask you what account you're on, because you need to remain anonymous. I hope at least you and your coworkers can somehow land on your feet through all this.

@2akg+1p8tAzKr I am on a State account. We seem to be motoring along. We are not being told there are major issues out there. The corporate level people continue to paint a rosy picture via corporate emails and townhalls. Since this is a private company, the facts remain hidden.

I wouldn’t be surprised if that doesn’t exist. Gainwell is in shambles.

I am curious, in a general sense... are any of the State accounts doing so well that they are in general sheltered from these issues. Out of all of the contracts, there has to be one or two, that are just motoring along, doing maintenance work, and oblivious to the company problems.

It seems to me everyone is dancing around the obvious.

Gainwell isn’t doing well. Losing more business than they are taking in.

Leadership is struggling to get their arms around what to do. Constant restructuring and layoffs.

Layoffs are inevitable at the end of this year.

A sale or bankruptcy if not both are on the immediate horizon.

The sooner you can admit this truth to yourself the better off you will be.

I assume they will walk away from some contracts, as soon as they are legally able to.

Why is everyone so worried about who the buyer is and not worried about the pending layoffs?

I have curiosity about who the buyer is. But I’m more worried about keeping my house.

Sooo what is the speculation on who the buyer is? Another Private Equity firm? (like Francisco Partners?) Or a public corporation? Please share the scoop!

45% is not out of the realm of normal after a company takeover. They cut to the absolute bare minimum then fill in as they see fit.

Gainwell already can’t deliver on contracts with extra people.

I’m not sure what the bare minimum is that the poster mentions. But from my perspective they could cut the workforce by at least 30%, if not more, and still function.

Whomever posted 45% is obviously not in the know. There may be reductions, but nearly half of the workforce would mean Gainwell can’t deliver on contracts. Use your brain.

Some departments can be eliminated completely. From a functionality perspective they simply aren’t a necessary department.

Yeah it’s pretty simple math. Less contracts = less people.

I have worked in several different departments over the years and I can see a significant reduction in workforce. I wouldn’t begin to try to guess against what someone might do. I interpret what is being said here that the total number of employees will be reduced by 45%. Not that it is 45% in each department. So some will be more than others.

I can say that leadership is acting differently as of late. My current boss included. Something is definitely brewing. I wouldn’t be surprised by a sale or by a massive workforce reduction soon after.

Meet the new boss, same as the old boss.

While I wouldn’t be surprised about Gainwell being sold, I find it a bit hard to believe that an across- the-board 45% staff reduction would/could occur. Perhaps it’s possible in limited departments, but I can’t see the company functioning with such a significant staff reduction.

Do some research about which companies are providing Claims Processing or other Medicaid consulting to the states these days. See if there are job openings at those companies. You might score some interviews.

Your many years of experience has value (just not at Gainwell because it doesn't have those contracts any more!)

Who cares who the buyer is. If this is true Gainwell is in for one heck of a ride. Instead of worrying about who is going to be letting me go I am worried about where else I can go and what my options are.

Sadly I think that if the new buyer is going to clean house, it is what is needed to turn this company around before it goes bankrupt.

Who is the buyer? If you have this much info you should know.

If this is true I would predict big layoffs before the end of the calendar year to pad the books and build Cashflow.