Louisville-based Humana plans to cut down its workforce 2% over the coming days, the company confirmed. About 800 employees around the country will be laid off this week as the company makes decisions about which positions to eliminate by the end of the year.
The news was first reported by the Courier Journal. The announcement comes just before the company plans to report its third quarter earnings.
Humana, one of the nation’s largest health insurers and a broadening healthcare services company, is making scheduled changes for 2020 that include “involuntary staff reductions” to set up for “long-term, sustainable success.”
The layoffs come at a time when Humana has been investing in its workforce with a wellness program, called Go365. Humana also recently hired a new chief medical officer earlier this year.
Humana is encouraging some employees to apply for thousands of open positions at the company.
“As of today, we have more than 2,000 open positions across the US, and we are encouraging employees to apply for these positions where appropriate, with the support of our Career Navigation Services group,” a Humana statement reads.
Those who don’t find another job with Humana will be given career counseling and a severance period with pay based on years of service, health benefits, employee assistance program services, and a personal pay plan for the opportunity to convert life insurance coverage.
In the case of employees also enrolled with Humana’s education program benefits, attending school, college or a graduate program using Humana’s provided reimbursement, the company will cover tuition through the end of the semester, according to the statement.
Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."