(Bloomberg) -- Molina Healthcare Inc. is cutting costs, shrinking its headcount and exiting some Obamacare markets after the health insurer posted a steep second-quarter loss, three months after pushing out the brothers who’d led the firm their father founded.

The company said it’s eliminating about 1,500 jobs as part of a restructuring plan that it hopes will save $300 million to $400 million by late next year.

In the meantime, Molina withdrew its 2017 earnings outlook. The company also said it will exit money-losing Affordable Care Act markets in Utah and Wisconsin for next year.

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