An insurance company in Wisconsin has revealed plans to cut resources at two of its sites, leading to the layoff of more than 300 workers.
Wisconsin Physicians Service Insurance Corporation (WPS) has informed the Wisconsin Department of Workforce Development through a Worker Adjustment and Retention Notification (WARN) letter that the layoffs are due to competitive pressures and losses in federal government contracts.
WPS is cutting jobs at its Monona and Madison sites as part of its resource reduction strategy, with permanent layoffs starting on January 21, 2025. A notice indicates that 313 employees will be impacted.
A total of 303 employees will be affected at the West Broadway site in Monona, along with 10 employees at the Tradewinds Parkway site in Madison.
No further information was given.