Business Services Industry
Prudential Promises No Big Job Cuts in Hartford, Conn.
Knight Ridder/Tribune Business News, November, 2003
By Kenneth R. Gosselin, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Nov. 19--Hartford got some reassurances Tuesday that Prudential Financial won't swing a big axe at jobs in the city, once it gains approval to buy CIGNA's retirement business.
"Every employee of the CIGNA retirement business will move over to Prudential at the close," said John Y. Kim, the CIGNA executive who will head the combined Prudential-CIGNA retirement businesses. "Further to that, the businesses are so complementary that the great majority of jobs will remain unchanged."
There could be some job trimming over time, but the cuts wouldn't be major, Kim said.
It also is possible that additional layoffs could come at two of three CIGNA...
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