Elevance Health conducts rolling layoffs despite record profits

Elevance Health Inc. has been conducting rolling layoffs since September, potentially affecting up to 10,000 employees across multiple divisions, Healthcare Dive reports. The insurer attributed the layoffs to "recent challenges" in the health care industry and "business optimization" efforts. Despite the layoffs, Elevance reported nearly $6 billion in profit on revenue of $171 billion in January, with expectations of further growth this year.