Bright Health is implementing another round of layoffs, the Minneapolis/St. Paul Business Journal reported Feb. 1.
According to WARN Act filings, the company will lay off 68 employees at its Bloomington, Minn., headquarters April 1.
The payer laid off 99 employees Jan. 7 and 150 employees in March 2022.
The reduction in force initiative comes as the company faces numerous challenges. In October 2022, the payer said it would end its ACA exchange line of business and also shuttered most of its Medicare Advantage business.
In December 2022, the New York Stock Exchange warned Bright Health it could face delistment after the company's average closing price fell below the $1-per-share threshold.
In a statement to the Minneapolis/St. Paul Business Journal, Bright Health said the end of most of its insurance offerings has "affected staffing at all levels across the organization.".
"The individuals impacted by these decisions have contributed significantly to the company and have been great partners to their colleagues," Bright Health said.