Business Services Industry
CIGNA to Lay Off as Many as 150 Technology Workers.
Knight Ridder/Tribune Business News, May, 2003
By Diane Levick, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
May 1--CIGNA Corp. said Wednesday it is laying off 135 to 150 employees in information technology -- about half of them in Connecticut -- as the company continues to pare expenses.
Meanwhile CIGNA is also increasing its use of Indian vendor Satyam for certain information technology work, a move angering U.S.-based consultants in a tight job market.
CIGNA, which is trying to raise slumping profits, said the layoffs announced Wednesday aren't the result of any shift to India or outsourcing.
The layoffs are aimed at reducing expenses and ensuring "that staffing is proportionately aligned with CIGNA's current business needs and work volume,"...
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