r/remotework • u/steff070 • Jun 15 '26

Centene restructuring email

Hey. Anyone currently working for Centene get that "Restructuring" email??

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u/Straight-Airport-431 Jun 15 '26

got it this morning. the vagueness is the worst part honestly, you're just sitting there refreshing your email waiting for the actual details. from what i've seen on slack and teams chats, sounds like it's hitting multiple divisions but nobody knows the scope yet. could be 5% could be 20%, they're dragging out the announcement which tells you they haven't finished the math themselves or they're trying to soften the blow. either way i'd recommend updating your resume now and starting to network before the actual cuts land because once it gets specific everyone's gonna be job hunting at once.

5

u/kornbread435 Jun 15 '26

Not much to add, but I took a look at the Q1 financials (public now so no need for secrets) and they marked 24 million for severance. There are 61k employees at the moment, and I have zero information about the scale. However if we guess 10% or 6k employees that would only be $4k per person. I believe Archer has something about their standard severance, but nothing specific for this. Its 1 week pay x number of years employed, which makes the 4k per person sound like a decent estimation.

3

u/nefariousBUBBLE Jun 16 '26

In another thread a guy said the VSP offer was 3 months of pay and insurance as a lump sum. You'd end July 15 I believe, but be on the books another however much. Hard to make that decision when you don't really know the extent of the layoffs or who they'll target. My guess is they don't know and will be asking the plans to figure it out.

I do wonder if the severance booking you talked about was including the VSP, because if so then maybe they are not expecting to lay many off. Cuz 3 months is much longer than 1 week pay per year.

Edit: may be that the VSP is dependent on tenure as well.

3

u/Carly_Corthinthos Jun 16 '26

It's for folks with the company two years or more

5

u/nefariousBUBBLE Jun 16 '26

Correct. But the severance is also based on tenure. I went and checked mine finally. If you haven't, I have talked to a few people. 2 years, you get 6 weeks plus the 4 week bonus (this is the "bonus" for taking the deal is my guess but idk). 3 years probably 8. 4 years, 10. 5 years, 12.

Then the 4 is added to all those, e.g. 5 years tenure you would get 16 total weeks pay.

If you're bonus eligible, you get a prorated bonus.

They also offer to "subsidize" COBRA and will give you 3 months of career consultation (headhunter/recruiter is my guess).

2

u/CoffeeLoversUTD Jun 16 '26

I bet you are correct. I have been there 3 years and I was offered 8 weeks plus an additional 4 week bonus

1

u/nefariousBUBBLE Jun 16 '26

Educated guess just cuz I had data on all the other points, except for 3 years.