Home | Business News | Browse by Publication | K | Knight-Ridder Tribune Business News

CIGNA sends layoff signal for 2005.

Publication: Knight-Ridder Tribune Business News
Publication Date: 04-NOV-04 		Format: Online - approximately 996 words
Delivery: Immediate Online Access

Article Excerpt
Byline: Diane Levick

Nov. 4--CIGNA Corp. Wednesday signaled more layoffs in 2005 and another 8 to 9 percent drop in enrollment Jan. 1 as the company announced a 64 percent increase in net income for the third quarter.

CIGNA chief executive H. Edward Hanway also said the company is examining its payments to insurance brokers and has found nothing illegal as attorneys general investigate commission practices and bid-rigging in the industry.

In addition, CIGNA, which has been striving for a turnaround, raised its estimate for profits for the full year 2004 and said health plan membership would stabilize in 2005 after the initial January decline.

Already on track to eliminate 3,000 positions nationwide this year, CIGNA said Wednesday it may record "restructuring" charges of as much as $50 million after taxes next year. But company officials would not estimate how many more job cuts that could mean, or...

Read the FULL article now - Try Goliath Business News - FREE!   
You can view this article PLUS...

  • Over 5 million business articles
  • Hundreds of the most trusted magazines, newswires, and journals (see list)
  • Premium business information that is timely and relevant
  • Unlimited Access

Now for a Limited Time, try Goliath Business News - Free for 3 Days!
Tell Me More   Terms and Conditions

Get Goliath Business News for 1 year - Just $99 (Save 65%)
Tell Me More   Terms and Conditions

Already a subscriber? Log in to view full article



More articles from Knight-Ridder Tribune Business News
The Hartford Financial Services' executives sued., November 04, 2004
International wine distributor to buy Napa Valley's Mondavi Corp., November 04, 2004
SBC will cut management jobs., November 04, 2004
St. Paul Travelers Cos., executives face class-action suit., November 04, 2004
Texas-based American Airlines plans more layoffs, CEO says., November 04, 2004

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.