Horizon Blue Cross Blue Shield of NJ to lay off hundreds of workers

Horizon Blue Cross Blue Shield of NJ to lay off hundreds of workers

Move comes as insurance provider and CVS fail to reach agreement, impacting pharmacy options for 800,000 New Jerseyans The post Horizon Blue Cross Blue Shield of NJ to lay off hundreds of workers appeared first on NJ Spotlight News.

Horizon Blue Cross Blue Shield laying off 5% of workforce starting April 26

Horizon Blue Cross Blue Shield of New Jersey, the state’s largest and oldest health insurance company, will lay off 242 employees, or 5% of its workforce, starting April 26. A company spokesperson said that Horizon is dealing with “unprecedented financial challenges due largely to higher medical costs and utilization across all lines of business.” The layoff announcement follows $275 million in cost reductions over the past three years. The redu…