Stratrix
On the Record · Wellcare Health Plans

Wellcare Health Plans layoffs, on the record

Every job cut, severance charge and restructuring Wellcare Health Plans reported in its annual reports, 2016 to 2018, quoted from the filings.

Headcount, as reported

Annual reportEmployeesAs of
10-K for 2016approximately 7,400December 31, 2016
10-K for 2017approximately 8,900December 31, 2017
10-K for 2018approximately 12,000 full-time employeesAs of December 31, 2018

Job cuts, severance and restructuring

  1. Our summaryThe filing reports severance payments to former executives tied to the Universal American acquisition, recorded in SG&A as transaction and integration costs. Cost: transaction and integration-related costs of $37.5 million

    Word for word“Additionally, our consolidated statement of comprehensive income for the year ended December 31, 2017 included a pretax net loss of $24.6 million attributable to Universal American's operations, which includes transaction and integration-related costs of $37.5 million related to the transaction.” 10-K for 2017

  2. Our summaryThe company incurred transaction and integration costs for the Meridian acquisition in 2018, including severance payments to former executives. year ended December 31, 2018 · Cost: $25.4 million

    Word for word“We incurred transaction and integration-related costs of $25.4 million during the year ended December 31, 2018, respectively, related to the acquisition of Meridian.” 10-K for 2018

  3. Our summaryThe company recorded transaction and integration costs tied to the Universal American acquisition, including severance payments to former executives. Affected: former executives

    Word for word“These costs include severance payments to former executives, advisory, legal and other professional fees that are reflected in selling, general and administrative ("SG&A") expense in our consolidated statement of comprehensive income.” 10-K for 2018

Wellcare Health Plans has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.

Read from Wellcare Health Plans’s annual reports (10-K for 2018, 10-K for 2017, 10-K for 2016) and the financial data it files with the SEC, as of 2019-02-12. 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.