Key facts
- Centene is offering voluntary separation packages to a majority of its employees.
- Centene has experienced significant losses in its Obamacare membership.
- Centene cited weakening enrollment and increased medical costs from a sicker patient mix.
- BCE Inc. is cutting 690 jobs.
- The job cuts at BCE Inc. represent approximately 1% of its workforce.
- BCE Inc. aims to reduce operating costs with these cuts.
- BCE Inc. will use savings to fund investments in US internet and AI businesses.
U.S. health insurer Centene is offering voluntary separation packages to a majority of its employees. This move comes as the company faces significant losses in its Obamacare membership and related financial challenges. Centene attributes these difficulties to weakening enrollment numbers and increased medical costs, which are associated with a sicker patient mix.
In a separate development, Canadian telecommunications company BCE Inc. is implementing workforce reductions, cutting 690 jobs. This represents approximately 1% of its total workforce. The company states that these job cuts are intended to reduce operating costs. The savings generated will be used to fund investments in US-based internet and artificial intelligence businesses.