A health company now announces unexpected layoffs in California according to the latest WARN filings submitted to the state.
Blue Shield of California has confirmed a reduction in its workforce, with 165 employees set to be laid off by January 31, according to Worker Adjustment and Retraining Notification (WARN) filings submitted to the state.
This move comes as part of the nonprofit insurer’s efforts to streamline operations and reduce administrative costs, the company said.
Below is a list of the counties affected as well as the number of layoffs scheduled in California:
- Alameda County: 80 Layoffs
- Los Angeles County: 32 layoffs
- Sacramento County: 20 layoffs
- El Dorado County: 16 layoffs
- San Joaquin County: 13
- San Diego County: 3
- Shasta County:1
The current layoffs affect approximately 2% of Blue Shield of California’s 7,500-employee workforce.Â
In August, the company shifted its pharmacy benefit management from CVS Health’s Caremark to a new model involving partnerships with Amazon Pharmacy, Abarca, Mark Cuban Cost Plus Drug Company, and Prime Therapeutics, aiming to reduce prescription drug costs by $500 million per year.
The WARN notice issued by Blue Shield of California reflects the company’s ongoing adjustments to its business strategy and workforce in response to the evolving healthcare industry landscape.
This is a developing story — for more news and updates like this, opt-in for push notifications.
Also Read: A Massive Bank Now Closes Several Branches in Florida
Other Economy News Today
A massive retailer is now closing stores in Illinois after announcing the closures of several locations nationwide.
CVS, the largest US chain, closed 244 stores between 2018 and 2020.
In 2021, it announced plans to close 900 stores by 2024.
Walgreens said in 2019 it would close 200 stores and in June announced an additional 150 store closures.
In addition, Rite Aid filed for bankruptcy in October and has announced plans to close over 250 locations.
The following three CVS locations will now close in Illinois:
- The 8639 S. Cicero Ave. store in Chicago will close on January 17. Customers with prescriptions will have them transferred to the CVS pharmacy inside Target at 4120 W. 95th St. in Oak Lawn.
- The CVS at 2000 Skokie Valley Road in Highland Park will close on January 25. Customers with prescriptions will have them transferred to the CVS pharmacy inside Target at 2099 Skokie Valley Road in Highland Park.
- Finally, the CVS at 401 W. Armitage Ave. in Chicago will close on January 31. Prescriptions for customers will be transferred to CVS at 1714 N. Sheffield Ave.
CVS issued a statement on the closures.
“Maintaining access to pharmacy services in the communities we serve is an important factor we consider when making store closure decisions.
Other factors include local market dynamics, population shifts, a community’s store density, and ensuring there are other geographic access points to meet the needs of the community.
Aetna Better Health of Illinois Medicaid members can choose to fill their prescriptions at any nearby in-network pharmacy location convenient for them.”
Also Read: A US Company Now Declares An Unexpected Bankruptcy
Market News Published Daily 📰
Don’t forget to opt-in for push notifications so you don’t miss a single article!
Also, thank you to all of our blog sponsors.
This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
Scroll below to view my stock purchases this month!
You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.
Frank Nez’s Stock Portfolio
Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?
Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.
11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.
Recommended For You ✨
About The Author
Leave your thoughts below.
For more news and updates like this, opt-in for push notifications.
You can also follow me on social media.
X: https://twitter.com/FNez_Blogger
IG: https://www.instagram.com/iamfranknez/