LayoffBlog.com

January 16, 2009

Blue Cross to lay off 1,000

Blue Cross Blue Shield of Michigan announced major cutbacks today, including a workforce reduction of nearly 1,000 employees by the year’s end, cutbacks to executive pay and compensation, and a reduction in discretionary spending by 25 percent, the nonprofit health insurer confirmed in a press release this morning.

The state’s largest insurer will also seek to raise rates across all of its individual lines of insurance, which combined cover about 300,000 Michigan residents.

Source: The Detroit News

2 Comments »

  1. I am not a fan of socialized medicine, but our system is so messed up. We finally switched to an HSA and have peace at least knowing our expenses are capped. But prior to that went had years back to back with 12K to 15K of expenses. Our son needed an tube put in his year, it was a 15-minute procedure and our cost was $3500, the insurance company paid about the same.

    And even though they are annoucing lay-offs, I’m sure our bills are going up again.

    Comment by Health Savings Account Providers — January 31, 2009 @ 1:39 pm | Reply

  2. If people would stop charging crazy fees for services, drugs, and they would stop insurance fraud, those insurance companies would not have to lay off those poor workers. It is sad that greedy pharmacutical companies and doctors want these huge fees. I am surprised any insurance company makes any money. Look at those 1000 dollar medications so many of us have each month, but we whine about a 10 dollar co-pay. Just a thought.

    Comment by Ada — March 11, 2009 @ 7:02 pm | Reply


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