Portland, Ore.-based Providence Health Plan, a division of Renton, Wash.-based Providence, has laid off about 4% of its workforce due to “strong financial headwinds and challenges” over the last year, a spokesperson for the organization told Becker’s.
The 4% reduction translates to roughly 60 employees losing their jobs at Providence Health Plan, which has about 1,500 employees.
“Reducing administrative costs is one way to ensure that we can continue to provide high-quality coverage to members and communities for generations to come. Unfortunately, this resulted in a reduction of about 4% of our workforce last week<” the company said in a statement to Becker’s. “We are deeply grateful to the caregivers affected and are committed to supporting them through this transition.”
The layoffs at Providence Health Plan are the latest in a string of workforce reductions among health insurers facing financial challenges.
