Business
N.J. Blues plan cuts 253 jobs
NEWS IN BRIEF — Posted May 18, 2009
Still awaiting hearings over whether it should be allowed to convert to a for-profit plan, nonprofit Horizon Blue Cross Blue Shield of New Jersey is cutting costs.
The Newark-based plan announced May 4 it would eliminate 253 jobs, 170 of which were filled positions and the remainder vacant ones that will not be filled. The cuts represent 5% of the company's work force.
According to the Blues plan's news release, Horizon is expecting flat enrollment for the year, which has cut into revenue and forced the layoffs. Horizon has also cut travel expenses and eliminated pay raises for some employees.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2009/05/18/bibf0518.htm.