Blue Cross Blue Shield of Massachusetts is offering a voluntary separation program to about 18% of its employees — totaling nearly 800 people — a company spokesperson told Becker’s.
Employees who are at least 55 years old and have worked for the organization for a minimum of 10 years are eligible. The decision comes as the company struggles with financial losses, reporting a net loss of $223.6 million and a -4.3% operating margin in 2024.
“We recognize that at this moment of unprecedented growth in the cost of healthcare, all of us have to do everything we can to make care more affordable for employers and families,” said the spokesperson. “We know we’re asking a lot of others, including our physician and hospital partners. We understand we also need to do our part, so we’re doing everything we can to control the piece that’s most in our control, which is administrative spending.”
Editor’s note: An earlier version of this article said that 18% of employees would total 4,200 people. BCBS Massachusetts later clarified the company’s overall workforce is 4,200 people, meaning under 800 employees would be eligible.
