(WXYZ) — Blue Cross Blue Shield of Michigan announced Tuesday it is offering voluntary separation offers to more than 10,000 employees.
According to BCBSM, the offer for non-bargaining unit employees was made Sept. 21 and opens on Monday, Sept. 28. It closes Friday, Oct. 23, according to the company.
The company said that the offer will help the business continue to manage administrative costs.
According to the company, the offer went to 8,650 non-bargaining unit at Blue Cross and most of its subsidiaries, and it will discussion the potential for extending a similar offer to 2,060 bargaining unit employees with the UAW.
President & CEO Daniel Loepp said in a memo to employees the state of the business is strong, but "there are significant financial headwinds on the horizon and our health insurance business remains challenged by administrative costs. We are at a point where we’ve decided to slow our hiring activity.
"Nobody could have predicted the great disruption to our lives that the coronavirus pandemic brought over these past months,” Loepp added. “Many of us have lost family, friends and neighbors to COVID-19. Each of our lives — at home and at work — has been fundamentally changed by the events of this year. Some of you have expressed to me, personally, an interest in reordering your work-life balance or doing something new.”