WellCare Health Plans Inc. said on Thursday it cut 208 jobs or about 5 percent of its work force after completing a comprehensive review of its business, the company reported.
The Tampa, Florida-based group provider of care services, said most of the cuts were made in Florida and New York Medicaid sales operations but added that corporate and regional support functions were also affected, according to a press release.
Making personnel changes such as we've done today is difficult, said in a statement Heath Schiesser, president and chief executive officer of WellCare. However, it is our obligation to deploy our resources as efficiently and effectively as possible. Our approximately 3800 associates consider it an honor and privilege to serve our more than 2.4 million members nationwide.
The company said it has more than 200 open positions for which it continues to recruit. Shares of WellCare Health Plans Inc. rose 2.18 percent to $53 at the closing composite trading of the New York stock Exchange on Thursday.