Centene is terminating its leases for nearly 200,000 square feet of office space in St. Louis or surrounding suburbs, according to the St. Louis Business Journal.
The payer briefly discussed its intentions to cut real estate holdings in half during the company's first-quarter earnings call April 26.
After five years, Centene will terminate its seven-year lease at Clayton Executive Center I at 7930 Clayton Road in Richmond Heights, Mo., on July 31. The company occupies 80,000 of the building's 95,000 square feet.
Centene will also be leaving the 112,806-square-foot Creve Coeur Pointe building at 12443 Olive Boulevard in St. Louis.
"Centene recently announced a fresh perspective on flexibility based on feedback from employees and designed to attract and retain top talent. This approach includes full remote working options and flexible working arrangements for all employees," a Centene spokesperson told the SLBJ. "Like many other large employers, we continue to evaluate our workplace and facility requirements as we activate new hybrid working arrangements."
Centene declined to comment on individual buildings or if other lease terminations are planned. The company opened a new office tower in suburban Clayton, Mo., in 2019.