Humana said layoffs projected to affect more than 800 employees nationwide will cost the insurer $46 million.
In a third-quarter earnings call, Humana executives said the layoffs are part of a yearlong effort to cut costs and management layers, according to the Courier Journal. The one-time $46 million charge reflects severance payments and related outlay.
Humana also cut management positions and reorganized its employees in a move affecting about 2,000 employees, according to the Courier Journal. Positions not deemed "critical to current operations" were targeted, according to Humana's CFO, Brian Kane, as quoted by the publication.
Read the Courier Journal's full report here.
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