Obamacare and Medicaid specialist Molina Healthcare to cut about 1,400 jobs, memo says

Healthcare

By cnbc.com

Molina Healthcare, a health insurer that specializes in the Obamacare and Medicaid healthcare programs for low-income and poor people, plans to cut about 1,400 jobs in the next few months, according to an internal company memo reviewed by Reuters.

Molina’s decision comes after it reported a first-quarter loss related to the individual plans created under former Democratic President Barack Obama’s healthcare law, and then fired its Chief Executive Officer Mario Molina a few months later.

The memo was sent to employees by Molina’s Interim CEO and CFO Joe White, who said that the cuts, which represent 10 percent of its 6,400 corporate employees and 10 percent of 7,700 health plan jobs, aim to contribute to savings by 2018.

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