ValueOptions Federal Services Inc. filed a notice with the state last week saying it will cease operations and lay off 115 employees at its Southside office after losing a government contract.
In a letter filed under the Worker Adjustment and Retraining Notification Act, ValueOptions said it lost the contract to support Tricare, the health care program for uniformed U.S. service members.
ValueOptions is a unit of Boston-based Beacon Health Options, which was formed by the 2015 merger of Beacon Health Strategies and ValueOptions. The company provides behavioral health management services.
The company said in its letter it will begin eliminating positions Dec. 29 and it expects to complete the process by May 15.
A company spokeswoman said no decision has been made on what it will do with its office space at 10199 Southside Blvd.