A health insurance company is cutting staff at its Denver headquarters and at another office in Alamosa.
Friday Health Plans, which provides insurance to small businesses and people without employer-provided plans, is laying off 98 employees at 1777 S. Harrison St. in Denver and 700 Main St. in Alamosa.
Interim Chief Legal Officer Stacy Knowlton wrote in a letter to the state that the layoffs, which will begin April 30, are due to a “loss of business.”
Spokesperson Tracy Faigin told BusinessDen in an email Friday Health made the “difficult and necessary decision to reduce our workforce to align it with the size of our membership.”
The company also made a round of 55 staff cuts in Alamosa last November, the Alamosa Valley Courier reported.
The 8-year-old company expanded out of state in 2019, starting with New Mexico and later adding Nevada, Texas, Oklahoma, North Carolina and Georgia, according to multiple news releases. The company ended coverage in Texas and New Mexico this year, although its website suggests plans could again be offered in the future.
The company notified the state of the layoffs in an effort to comply with the federal Worker Adjustment and Retraining Notification Act, which requires large employers to provide advance notice of plant closings and significant layoffs.
Other companies that have informed the state of layoffs this year include British sports apparel firm Gymshark, California-based Specialized Bicycles, lighting manufacturer Pinnacle Architectural Lighting, automobile seat cover maker GT Covers and a subsidiary of Broomfield-based Vail Resorts.