Signify Health cutting nearly 500 employees


Recent off rumors it might be bought via CVS Well being, Symbolize Well being is shedding just about 500 staff, starting Oct. 1.

The worth-based care era corporate notified the Connecticut Division of Hard work it deliberate to chop 489 staff, together with 147 who paintings in one of the vital corporate’s 5 places of work and 342 who paintings remotely.

The letter used to be despatched as a demand of the Employee Adjustment and Retraining Notification Act. Symbolize, which has an administrative center in Norwalk, Connecticut, is founded in Dallas. 

A spokesperson for Symbolize mentioned some staff can be reassigned to different roles inside the corporate.

CVS Well being is making plans to make a bid for the corporate, in keeping with a file in The Wall Boulevard Magazine. Symbolize’s CEO, Kyle Armbrester, have shyed away from the subject totally all through the corporate’s quarterly income name on Aug. 4.