CIGNA May Hint At Size Of Layoff

[UpInArms]

http://www.ctnow.com/business/hc-cigna0206.artfeb06,1,588685.story?coll=hc-headlines-business (free registration required)

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.

<snip>

CIGNA, which is expected to announce the 2004 severance-related charge when it releases 2003 fourth- quarter and year-end financial results today, has been trying to rebuild weak earnings and stem the decline of enrollment.

...more...

[radfringe]

1. ...but....but....but....

the Enronomy is getting better...so sayth bush*

isn't this the reason unemployment benefits weren't extended...and all that cheering because 1,000 jobs were created in December '03?

[UpInArms]

2. have you noticed

that since they said that * "was concentrating on the economy" that it has gotten even worse?