Wellpoint Inc., the Indianapolis-based corporate parent of Anthem Blue Cross Blue Shield of Wisconsin, announced it would eliminate about 1,500 positions across the country. However, 900 of those positions are open now, making for approximately 600 job cuts from around the country.
A Wellpoint spokeswoman said the 600 cuts would mostly be made in the 14 states, including Wisconsin, where the company has its largest presence and that the cuts would be relatively evenly spread. The company employs 1,500 to 1,600 workers in the state.
Wellpoint’s workforce reduction announcement comes on the heels of its disclosure earlier this month that it expects fourth quarter 2008 investment losses to total about $349 million. The company lost about $560 million during the third quarter, also related to investment losses.
Meanwhile, Louisville, Ky.-based Humana Inc. recently confirmed its lowered earnings projections for fiscal 2008. The company reported a 39 percent drop in profit during the third quarter and lowered its outlook at the time, estimating that it would earn $3.80 to $3.90 per share, compared with earlier forecasts of $4.30 to $4.40 per share. The company still anticipates earning $5.90 to $6.10 per share in 2009.
