Jan. 5 (Bloomberg) -- Cigna Corp., the health insurer whose shares fell 69 percent last year because of investment losses, said it will cut about 1,100 jobs and take a fourth-quarter after-tax charge of $30 million to $40 million for 2008.
The Philadelphia-based company's 4 percent workforce reduction will be complete by the middle of the year, and some offices will be consolidated, although it didn't offer details in a statement today. There may be more charges for 2009, the company said in a filing with the Securities and Exchange Commission.
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