Centene offered buyouts to most employees in June. Now, the financials are catching up.
In a July 28 report, the company projected severance costs between roughly $315 million and $365 million, mostly driven by the voluntary separation program, for the second half of 2026.
The company already incurred $61 million in related expenses during the first half of the year, including third-party vendor and severance costs. Of that, $47 million specifically came from the second quarter.
The company committed to accepting employee offers on July 27, the report said. Centene recently updated its employee total from 61,000 to 59,800 personnel.
The report attributed the severance costs to enterprise optimization efforts and contract exits. The company’s ACA, Medicaid and Medicare memberships have been waning in 2026 relative to the same period in 2025.
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