Business Services Industry
CIGNA May Hint At Size of Layoff through Its Earnings Statement.
Knight Ridder/Tribune Business News, February, 2004
By Diane Levick, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Feb. 6--CIGNA Corp. is expected to give some indication today of how deep its coming round of job cuts will be by announcing a sizable charge to earnings.
It wasn't certain whether CIGNA would disclose the number of layoffs. But the hit to 2004 earnings would reflect severance and related costs, sending signals about job impact.
CIGNA declined to comment Thursday on the charge or job cuts. The company has previously confirmed the elimination of at least 4,180 jobs during 2003 and late 2002, including several hundred in Connecticut.
Philadelphia-based CIGNA had 33,767 employees companywide as of last fall, including part-timers. In Connecticut...
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