LOUISVILLE, Ky. — The fifth largest company in Louisville announced a two percent or slightly more than 800 employee reduction by the end of the year.
According to a statement from Humana, the move scheduled for 2020 and beyond aims to improve productivity and position the company for long-term success. It also states that the measure aligns with broader efforts to evaluate the work of the organization.
Over the next three days the impacted employees will have discussions with the organization's HR department, during which they will learn that their current position will be eliminated by the end of the year.
Until that time, the employees will remain in their current position.
Humana says they will assist impacted employees by offering consulting on potential other roles within the organization or another career during their transition during a severance period.
Humana describes the severance period in five steps:
• Severance or monetary pay based on years of service with the company, and in keeping with Humana policy.
• Continued medical, dental, and vision benefits during the severance period.
• Extended use of Employee Assistance Program (EAP) services.
• If an employee is enrolled in school, college, or a graduate program and using Humana-provided tuition reimbursement, Humana will pay tuition through the end of the current semester.
• The opportunity to convert and continue life insurance coverage through a personal pay plan.
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