LOUISVILLE, Ky. — Humana, the Louisville-based insurance provider, announced it was closing its downtown offices, known as Humana Tower, on West Main Street.
What You Need To Know
- Humana is moving its operations from Humana Tower
- Employees will transfer down the Main Street to the Waterside building
- The tower has served as Humana's primary location since 1985
- The future of the building is still being determined
In an email sent to employees obtained by Spectrum News 1, the company said it would consolidate its physical workspace by moving operations to its Waterside building at 101 E. Main Street and the Clocktower building at 123 E. Main Street, while closing its operations at Humana Tower at 500 W. Main Street. The transition to the new facility is expected to take 18 to 24 months.
Humana said several factors went into deciding to move the headquarters. The Waterside “campus” is 40% larger than the tower and more modern. The adjacent Clocktower building houses a health and well-being center and additional workspaces. The Waterside location also boasts company-owned parking.
According to Humana, the company has also spent a lot of money “to remediate structural components of the Humana Tower to rectify original design, engineering and construction issues.” The company says future usage of Humana Tower is still being determined and they are working with the mayor’s office and other city agencies to find potential uses for the property.
Kevin Trager, press secretary to Mayor Craig Greenberg, D-Louisville, said in a statement to Spectrum News 1, “Humana is a great partner and employer for Louisville and we appreciate their continued commitment to our city as they make this transition. The Humana Tower is an iconic downtown building—in the heart of our city—and we view this as an opportunity for future growth. The mayor’s office is looking forward to ongoing conversations with Humana and other partners about how this property’s next chapter will continue to be an asset to our beautiful, vibrant downtown.”
Humana Tower has been the company’s primary location since 1985 and they say moving was not an easy decision.
In the email to employees, Humana said, “While we recognize that change is not always easy, we look forward to seeing associates thrive with the high energy and creative opportunities of a denser, more centralized campus that is well suited to evolved workstyles now and into the future.”
The news comes just weeks after the insurance giant scaled back fourth-quarter profit expectations for 2023, which led to a slump in stock prices. Humana blamed higher-than-expected costs for patient care.