September 3, 2014

Layoffs at WPS Insurance

A Wiscosnin-based insurance firm will lay off some 450 employees at the end of March. In a press release WPS Insurance CEO Mike Hamerlik said the layoffs are largely the result of WPS losing contracts to process Medicare claims, and to manage care claims for the military, in 21 states. Those contracts made up about 40 percent of the company’s annual revenue last year.

Layoffs will commence on March 29 at six locations – with 250 in Madison and four locations in Monona, and 201 layoffs in Wausau. Additional layoffs are possible if WPS is unable to procure new business to replace the federal contracts. Hamerlik said last November that up to 600 employees could lose their jobs in 2013.