In a third-quarter earnings call, Humana executives said the layoffs are part of a yearlong effort to cut costs and management layers, according to the Courier Journal. The one-time $46 million charge reflects severance payments and related outlay.
Humana also cut management positions and reorganized its employees in a move affecting about 2,000 employees, according to the Courier Journal. Positions not deemed “critical to current operations” were targeted, according to Humana’s CFO, Brian Kane, as quoted by the publication.
Read the Courier Journal‘s full report here.
More articles on payers:
Amazon-Berkshire-JPMorgan tests new employee health plan in some states
BCBS of North Carolina CEO’s resignation ‘wrong message’ on mental health, former congressman says
Molina Healthcare loses Texas Medicaid contract
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.
