Molina to cut 1,400 jobs

Molina Healthcare plans to cut about 1,400 jobs in the next few months, Reuters reports. The insurer has about 1 million beneficiaries enrolled in plans that it sells on the Obamacare exchanges, and that’s a major area where it has lost money. The cuts entail about 10% of the insurer’s 6,400 corporate workers and 10% of its approximately 7,700 health plan jobs. Molina officials hope that the cuts will contribute to overall savings next year. Molina services 4.8 million members in 12 states and Puerto Rico.

Source: Reuters