On April 20, EmblemHealth handed out termination notices to 250 employees as the New York-based health insurer attempts to improve its financial standing. The layoffs are primarily in IT and operations departments, with those roles to be outsourced.
The cuts, representing 7.5 percent of the company’s 3,300 employees, are part of an effort to turn around its fortunes after the insurer lost $113 million last year and $485.8 million in 2014.
Emblem has hired Cognizant as an outside provider of IT services to automate processes and improve technology. A number who received layoff notices are being asked to take positions with Cognizant.
While the number of jobs in industry continues to soar, recent reports have pointed to a decline in non-health occupation jobs in healthcare settings.
Nicholas joined TriMed in 2016 as the managing editor of the Chicago office. After receiving his master’s from Roosevelt University, he worked in various writing/editing roles for magazines ranging in topic from billiards to metallurgy. Currently on Chicago’s north side, Nicholas keeps busy by running, reading and talking to his two cats.