AM I NEXT? NO LOVE AT JACKSON NATIONAL LIFE INSURANCE

Lansing, Michigan-based Jackson National Life Insurance Company, a provider of annuities for retail investors and fixed income products for institutional investors, announced a reduction in force of 150 employees, three-months after the company's parent corporation, London, England-based Prudential Plc, announced a divestiture.

Prudential Plc will "pursue a full separation of Jackson by way of a minority Initial Public Offering followed by full divestment over time."

According to a company spokesperson, "Due to economic conditions and a decline in industry sales, we have implemented staffing-level changes, including realignments and eliminations, across Jackson. These changes have resulted in a headcount reduction of approximately 150 associates. We value and appreciate the contributions of all our associates and are committed to a thoughtful transition for those personally affected by this decision."

“Jackson remains focused on serving the U.S. retirement market and committed to the continuous assessment of the resources and capabilities of our organization. It is this discipline that enables us to be positioned to serve our customers and distribution partners, and successfully transition into the future, during uncertain times.

"While these changes are never easy, they are critical for us to achieve the right scale and flexibility to meet market demands. What is not changing is our commitment to continuing to provide a superior level of support for financial professionals and the clients they serve through the largest distribution force in the industry and our award-winning customer service. We remain focused on delivering on our long-term strategic objectives as we continue helping Americans secure protection amid uncertainty as they transition to and through retirement.”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT PREMERA BLUE CROSS

Mountlake Terrace, Washington-based Premera Blue Cross, a health insurer licensee of Blue Cross Blue Shield, has announced a major reduction in force that will impact 285 employees in the company's Puget Sound area. The employees are said to be support personnel in non-customer-facing positions.

A company spokesperson noted, "While Premera remains strong financially, we recognize the tremendous toll the global pandemic has taken on the economy and many of our group and individual customers."

“Unfortunately, the global pandemic and the subsequent impact to the economy has forced us to move beyond our normal efficiency and cost-saving efforts to eliminate approximately 285 non-customer-facing positions out of 3,442 employees. That figure represents a cut of about 8.3%."

“Now, more than ever, affordability is the number one barrier to receiving high quality care, and we must do all that we can to reduce our costs and pass those savings on to our customers.”

"I cannot share specific positions as all impacted employees have not yet been notified. Positions range across the company in the Puget Sound region, 236 positions will be eliminated.

Premera is a subsidiary of the Blue Cross Blue Shield Association.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT AETNA

Woonsocket, Rhode Island-based CVS Health, the company that owns CVS Pharmacy, Caremark, the pharmacy benefits manager, and Aetna Insurance, has announced that it is continuing with the restructuring to eliminate duplicate functions and redundant personnel at its Aetna Insurance subsidiary located in Hartford, Connecticut.

According to a company spokesperson, “Within the Aetna business, we are in the process of reorganizing and consolidating certain business segments to take advantage of CVS Health’s enterprise capabilities, while continuing to grow our core businesses and create added value for our members, customers, and provider partners. As part of this work, we’ve made the difficult decision to eliminate a very small percentage of positions in Hartford.”

The company will not disclose the number of targeted individuals but claims that the restructuring effort will “impact all parts of the Aetna business.”

Such reductions in force are almost routine in the process of integrating subsidiary operations into a parent company to consolidate and streamline operations.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?