…what is the next move?
Will they offer the exit incentives to a slightly younger group?
Will they offer incentives based on years with company?
Will they forget about layoffs and give everyone a raise?
12 replies (most recent on top)
@15g ive seen it on the Cigna side
Historically, in the corporate world the first offering is the best.
@19m plan for severance benefits to worsen as time passes. They haven’t exactly been doing anything good lately for anyone. (IE pto carryover change etc…). Expect the worst anymore with this company. It’s sad how fall it has fallen.
Will they change severance packages benefits with the excuse of if you did not take this early retirement benefit, then sorry but severance package benefits are reduced?
@OP Do you know that if they offered the retirement incentive that you are on the "board" to be RIFFED later this year if not next year?
IT and Ops were excluded this time, but are supposed to be offered early next year.
Is this just IT? And anyone on Cigna side?
They will absolutely layoff more if they don’t meet their goal and maybe if they do meet it. Thats a no brainer.
@ay What exactly are they offering above the regular severance package?
I read in general it's not uncommon to go as low as 50 and still call it a retirement offer. My only guess at why 55 was the cutoff was due to the "rule of 55" for using 401k before you are 59.5. There will likely be another round next year as mentioned in a post below.
Usually they start with the best offer. They went with 55 and over thinking if someone has 20 years they’ll jump at the big payout. It’s also there way of not firing older people to get sued. Older people would be preferred in their view. Cigna’s severance packages are pretty generous, but if they offered you a chance and you didn’t take it they may start reducing what it has been in the past.
They’ve already said they will open it up to other currently exempt groups, like Tech and OPs in “early 2026”. Who knows if the parameters will be the same…..