Humana projects workforce reduction to affect 2,700, up from previous estimate

Humana raised the number of employees affected by layoffs or voluntary buyouts to 2,700, up from initial projections of 2,450, Louisville Business First reports.

On Monday, the payer announced plans to lay off roughly 1,300 employees in early 2018. The insurer said another 1,150 employees accepted voluntary buyouts, which were offered in September.

However, Humana upped the number of affected employees to 2,700 in its third quarter earnings release Wednesday. Employees affected by Humana's efforts reflect 5.7 percent of its workforce.

After terminated employees depart early next year, Humana's workforce will decrease to 44,700 employees. The reduction resulted in a $124 million pretax expense in the third quarter of this year, according to Humana's earnings release.

More articles on payer issues:
Humana's net income up 11% in Q3
AmeriHealth Caritas to lay off 400, cease Iowa Medicaid management
Humana sues CMS for $600M+ in risk corridors payments

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