Dallas, Texas-based Signify Health, a medical technology company operating a healthcare platform that facilitates how home health care services are administered and delivered, is undertaking a multi-state reduction in force.
The reduction will impact 489 employees in Texas, South Dakota, including 175 employees in New York and 45 employees in the comany's principal executive office in Norwalk, Connecticut. Layoffs are scheduled to commence on October 1, 2022. 342 employees are now working remotely.
The decision was driven by “recent policies implemented by the Center for Medicare & Medicaid Innovation which made continuing to operate in that market segment unsustainable."
According to a company spokesperson, “We are reducing our workforce in consideration of the fact that, as we announced in July, we are transitioning our focus from a stand-alone episodes offering to a total cost of care management solution. We have notified employees whose roles are impacted by this decision.”
Signify Health is exploring strategic alternatives including a sale to a large company like Woonsocket, Rhode Island-based CVS.
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