Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Health Insurance > Life Insurance Strategies

Michigan Blue May Cut 1,000 Jobs

Your article was successfully shared with the contacts you provided.

A Midwestern health insurer says it will be reducing its workforce by 400 within the next 60 days and may cut 600 more jobs this year.

Blue Cross Blue Shield of Michigan, Detroit, says it has to make the cuts mainly because of state laws that limit the flexibility of its individual health insurance operation.

Michigan Blue also is announcing a salary reduction for senior executives; a reduction in the number of executives employed at the company; a freeze on salaries for non-unionized workers; a request to the United Auto Workers to delay a 3% pay increase; a 25% reduction in the company’s advertising and lobbying spending; and cuts in contributions to community programs.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.