Thread regarding Cigna layoffs

Did you know CEO pay is public information?

You can look it up on the SEC website. Here is the PDF Cigna filed:

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001739940/000173994025000015/ci-20250314.htm

Some interesting finds:

"Returned $8.6 billion to shareholders through share repurchases and dividends."

Interesting how employees are a $1.4 billion burden, but this $8.6 billion isnt? These are called stock buybacks and they are a way of using company profits to artificially inflate stock price instead of reinvesting in the workers or company. You can learn more about them here: https://youtu.be/MG6tuszAIT8?feature=shared

"performance-based incentives represented approximately 92% of Mr. Cordani’s total target compensation for 2024 ... This compensation structure is designed to reward Mr. Cordani for performance achieved and align his interests with those of our long-term shareholders."

The only "performance" the company cares about is stock performance because the person at the top is paid based on it. The stock is down, so David Cordani will do whatever it takes to get it back up. Whether that is investing more profit in stock buybacks, layoffs to reduce costs and support buybacks, illegally denying claims (again), offshoring skilled labor to foreign countries, and focusing any remaining scraps of budget on reducing operational costs (specifically future labor costs with AI).

The way you can fight back is to unionize.

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| 2453 views | | 12 replies (last July 24) | Reply
Post ID: @OP+1k0c9cebj

12 replies (most recent on top)

Question is who didn’t know?

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Post ID: @1a9+1k0c9cebj

Lol

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Post ID: @197+1k0c9cebj

This isn’t the juicy bit that I was hoping for.

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Post ID: @17h+1k0c9cebj

It’s a dual reference to the Movie “Norma Rae” who fought to unionize her factory starring Sally Fields, and “We all know what happened in Pittsfield” is a reference from the hit NBC show “The Office” about how the Pittsfield branch started talking about forming a Union and corporate immediately closed the branch and fired everyone involved

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Post ID: @17b+1k0c9cebj

So who is Norma Rae and what happened in Pittsfield?

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Post ID: @11y+1k0c9cebj

Unionize? So everyone is completely equal with the same pay? Hmm

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Post ID: @10p+1k0c9cebj

This person just discovered something everyone else has always known. Congratulations.

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Post ID: @hq+1k0c9cebj

Settle down Norma Rae, we all know what happened in Pittsfield

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Post ID: @cq+1k0c9cebj

This is none of your business.

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Post ID: @c4+1k0c9cebj

@OP that’s capitalism! Shareholders are owners of the company. Employees are just workers. It’s like you hire a contractor to build a house for you, the contractor like DC, hires some talented workers working on the house. They work very hard whether it’s sunny, rainy or windy. In the end, they don’t have any ownership of the house they built. You as the owner of the house doesn’t have to do anything can enjoy the comfort in the house they built.

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Post ID: @b7+1k0c9cebj

@a4 David, you should be focusing on getting that stock price back up instead of trolling this website.

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Post ID: @a5+1k0c9cebj

lol give me a break, no one is unionizing, get over it this is how corporate works

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Post ID: @a4+1k0c9cebj

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