Clover Health Investments layoffs, on the record
Every job cut, severance charge and restructuring Clover Health Investments reported in its annual reports, 2023 to 2025, quoted from the filings.
Job cuts, severance and restructuring
Our summaryAnnounced business transformation initiatives including an agreement to move core plan operations to UST HealthProof's platform and additional corporate restructuring actions.
Word for word“On April 17, 2023, the Company announced it would implement certain business transformation initiatives, including an agreement to move its core plan operations to UST HealthProof’s integrated technology platform and additional corporate restructuring actions.” 10-K for 2023
Our summaryConducted a reduction in force to better align its Selling, General, and Administrative cost structure with its revenue base, eliminating about 10% of the workforce.
Word for word“This restructuring resulted in the elimination of approximately 10 % of the Company's workforce.” 10-K for 2023
Our summaryRecorded restructuring charges related to the business transformation initiatives, including employee termination benefits, vendor related costs, and other costs.
Word for word“For the twelve months ended December 31, 2023 the Company recorded $9.9 million of restructuring charges related to these business transformation initiatives, which consisted of employee termination benefits, vendor related costs, and other costs.” 10-K for 2023
Our summaryNotified CMS it will no longer participate as a REACH ACO for the 2024 performance year, incurring employee termination benefit costs.
Word for word“On December 1, 2023, the Company notified CMS that it will no longer participate as a REACH ACO in connection with the 2024 performance year.” 10-K for 2023
Our summaryAnnounced business transformation initiatives, including moving core plan operations to UST HealthProof's platform and additional corporate restructuring actions.
Word for word“On April 17, 2023, the Company announced it would implement certain business transformation initiatives, including an agreement to move its core MA operational platform to UST HealthProof’s (“UST HealthProof”) and additional corporate restructuring actions.” 10-K for 2024
Our summaryRecorded total restructuring costs in 2023 for employee termination benefits, vendor related costs and other costs under the business transformation initiatives.
Word for word“Year ended December 31, 2024 2023 2022 (in thousands) Employee termination (recoveries) benefits $ ( 547 ) $ 4,795 $ — Vendor related costs 822 4,939 — Other 13 87 — Total restructuring costs $ 288 $ 9,821 $ — UST HealthProof Transition As of December 31, 2024, the liability for employee termination benefits was recorded in Accrued salaries and benefits and the liability for vendor related costs and other expenses were recorded in Accounts payable and accrued expenses in the Consolidated Balance Sheets.” 10-K for 2024
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2022-12-31 | $0 | — |
| 2023-12-31 | $9.8 million | $4.7 million |
| 2024-12-31 | $288,000 | $2.7 million |
Clover Health Investments filed 2 restructuring notices (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Clover Health Investments’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-27. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.