Horizon BCBS to Lay Off 5% of its US Workforce

On Jan 29, 2026

Horizon Blue Cross Blue Shield of New Jersey, the state’s largest health insurance company, is laying off 5% of its total US workforce, including 242 New Jersey-based employees according to a Worker Adjustment and Retraining Notification (WARN) filing.

The newly announced layoffs will take place on April 26.

The layoffs come despite $275 million in cost reductions by the insurer over the past three years, with a company spokesman citing, “unprecedented financial challenges due largely to higher medical costs and utilization across all lines of business.”

All impacted Horizon employees were notified this week, including workers at both the Newark and Hopewell headquarters.

“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,” Horizon spokesperson Thomas Wilson said in a statement. ”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.”

Including the layoffs announced this week, Horizon has reduced its workforce by 8% over the last 13 months.

Horizon insures 3.8 million people in the state, representing approximately 40% of New Jersey residents.

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