Newark, New Jersey-based Horizon Blue Cross Blue Shield of New Jersey, a not-for-profit, tax-paying health service corporation offering the only licensed Blue Cross and Blue Shield plan in New Jersey, has announced a company restructuring with a 5% reduction in force
The reduction will affect 242 employees, effective April 26, 2026.
According to a company spokesperson, "Horizon is facing unprecedented financial challenges due largely to higher medical costs and utilization across all lines of business. Over the past three years we have taken proactive steps to control rising healthcare costs, including reducing our own operating costs by $275 million. Nonetheless, our current cost structure is simply not sustainable in this environment and we have a responsibility to our customers and members to ensure the long-term financial strength of the company. We do not take workforce reductions lightly. Employees whose positions were eliminated were treated with fairness and respect and will receive a generous separation package.”
Change is constant, and it's coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, at any time, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?