Secrets of the Job Hunt


Tuesday, January 20, 2009

Health Care Jobs Cut at WellPoint

WellPoint, Inc., a publicly traded commercial health benefits company, has announced plans to streamline its administrative cost structure in response to the ongoing economic downturn as it continues to manage its business for long-term success.

The company will eliminate approximately 1,500 positions, including more than 900 open health care jobs. The approximately 600 associates affected by the layoff will receive both severance pay and outplacement assistance in accordance with WellPoint's policies.

"With the current state of the economy we made the difficult decision to adjust the size of our workforce as we continue to meet our members' needs while appropriately controlling operating expenses," said Angela F. Braly, president and chief executive officer of WellPoint, Inc. "We remain committed to providing our members with the high-quality customer service they expect and developing innovative solutions to address the rising costs of health care."

Customer service to all members remains a high priority for WellPoint. This adjustment to the size of its workforce does not impact any existing compliance staff involved in its Medicare Advantage or Medicare Part D compliance process.

"WellPoint remains a financially strong company with a diverse investment portfolio and ample liquidity," said Wayne DeVeydt, chief financial officer, WellPoint, Inc. "We proactively manage our business and make adjustments based on market conditions while striving to provide the best value through innovative products and services."

"We continue to build on momentum from our 2008 performance improvement plan, making the necessary changes to enhance our claims processing and customer service functions and streamlining operations," said Braly. "We will continue to make the necessary adjustments to meet our customer and financial commitments for 2009. We intend to discuss our 2008 performance and our 2009 outlook in our earnings release on January 28, 2009."

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