Blue Cross Blue Shield Parent Company Layoffs: Dozens Cut At The Health Insurance Provider

Health Care Service Corp., the parent company of Blue Cross and Blue Shield health insurance plans in five states, has reportedly laid off dozens of employees.

The company confirmed the news to the Chicago Tribune with company spokesperson Greg Thompson telling the news outlet that a few dozen employees were laid off from middle management on Monday and Tuesday.

Thompson went on to say that “As with any large organization we’re continuously looking to evaluate our business and adapt to the needs of our members and the changing landscape and making sure we can position ourselves for growth.”

There was no word on where the layoffs occurred or exactly how many of the company’s 23,000 employees were affected at its 60 local officers.

Health Care Service Corp. has had a turbulent time with staffing as it saw its President and CEO Paula Steiner depart in July after only being with the company for about three years, the news outlet said. Other executives that left the company recently include Chief Financial Officer Eric Feldstein, Chief Information Officer Steve Betts and Chief Human Resources Officer Nazneen Razi, according to the Tribune.

In 2018, Health Care Service Corp. reported had a $4.1 billion profit and is now being led by Maurice Smith.

Health Care Service Corp. has 16 million subscribing members under its umbrella and operates Blue Cross and Blue Shield plans in Illinois, Montana, New Mexico, Oklahoma, and Texas, according to its website. The company also has a number of subsidiaries and affiliates.