Blue Cross Blue Shield lays off 63 workers in cost-cutting move
Blue Cross Blue Shield of North Dakota has trimmed 13 percent of its payroll by laying off 63 employees and not filling 57 vacancies as part of a cost-cutting strategy.
The layoffs, announced Monday, will save $3 million in future annual payroll costs but result in a one-time severance payout of $875,000, the company said.
Altogether, the efficiency moves will cut $13 million from the Blues' budget next year, with 60 percent of total costs attributed to payroll and benefits.
Are you a newspaper subscriber but you don't have a Digital Access account yet? https://secure.forumcomm.com/?publisher_ID=40&event=subscriber/lookup.
You will need your subscription account number and phone number. Not sure if you have an account? Email us at firstname.lastname@example.org and we can help you.