Business Services Industry
UnitedHealth promises to keep jobs in Connecticut after acquisition.
Knight Ridder/Tribune Business News, July, 2004
By Diane Levick, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Jul. 9--UnitedHealth Group is promising to keep most of Oxford Health Plans' Connecticut employees after acquiring the Trumbull-based company, and to greatly increase charitable giving in the state.
But UnitedHealth's commitments on employment here are for just two years, and the company says it is already planning 20 job cuts at Oxford.
Minnesota-based UnitedHealth outlined its plans in a letter Thursday to Connecticut Insurance Commissioner Susan F. Cogswell.
The stock-and-cash acquisition, announced in April and valued at nearly $5 billion at the time, will be subject to the approval of the insurance department, which held a public hearing on...
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