Around 30 employees within the company’s technology team were impacted.
Clover Health’s technology division has grown significantly in New Jersey and the Silicon Valley as the insurer employed a lot of tech workers to predict when members are more likely to get sick. Now the company, which offers insurance to seniors in seven states, realizes it must focus its hiring on people with health expertise, according to the news report.
“We are restructuring some teams in recognition of our need for deep Medicare Advantage skill sets,” the company told CNBC.
The insurer said it plans to open an office in Nashville Tenn., to recruit talent from other healthcare companies.
In the last year, Clover Health has made a push to pursue healthcare executives from other major companies.
Editor’s note: This article was updated March 28 at 2:15 p.m. CDT to reflect the 140 job cuts were for the entire organization and add the number of tech employees impacted.
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