Even a month later, I'm not over it. They pushed me out at 59 after seven years of top performance reviews and max bonuses. Almost everyone I know who was let go is over fifty. Some were just a few years from retirement. I'm sick about it every single day. Let my situation be a warning. You cannot trust any of them.
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@mr If we all got the same “layoff” package DC got, none of us would be complaining. But that didn’t happen, did it?
DC will retire as chief executive officer effective July 1.
He will remain chair of The Cigna Group Board of Directors.
Cordani is yet another employee over 50 who was let go. So at least I guess there’s some consistency? 😉
Regrettable collateral damage. This budget has to come from somewhere
https://www.beckerspayer.com/payer/cignas-5-highest-paid-executives-in-2024/
David Cordani, chair and CEO
Salary: $1,573,077
Stock awards: $15,214,154
Option awards: $3,340,009
Non-equity incentive plan compensation: $2,720,000
Change in pension value and deferred compensation: $31,059
Other compensation: $372,797
Total compensation: $23,251,096
Eric Palmer, executive vice president, enterprise strategy of the Cigna Group and CEO of Evernorth
Salary: $1,000,000
Stock awards: $5,813,611
Option awards: $1,725,052
Non-equity incentive plan compensation: $1,840,000
Other compensation: $51,825
Total compensation: $10,430,488
Brian Evanko, executive vice president and CFO of the Cigna Group and CEO of Cigna Healthcare
Salary: $994,231
Stock awards: $5,813,611
Option awards: $1,725,052
Non-equity incentive plan compensation: $1,700,000
Other compensation: $51,738
Total compensation: $10,284,632
Noelle Eder, executive vice president and global chief information officer
Salary: $868,269
Stock awards: $3,012,429
Option awards: $893,791
Non-equity incentive plan compensation: $972,000
Other compensation: $41,974
Total compensation: $5,788,463
Nicole Jones, executive vice president, chief administrative officer and general counsel
Salary: $868,269
Stock awards: $3,012,429
Option awards: $893,791
Non-equity incentive plan compensation: $972,000
Change in pension value and deferred compensation: $1,049
Other compensation: $40,624
Total compensation: $5,788,162
Just hit my 20th year last year, turned 50 in January, laid off in February after years of great reviews and no performance issues. Sad.
Yup. And even though I removed obvious age references on my resume, I still can’t get an interview because I’m over 60. There is ageism in the entire industry. I don’t blame you for being angry. I had wanted to work until 65 but I’m not going to take any old job I’m overqualified for just to get a far lower paycheck. I’m probably going to cut back on expenses and retire early.
I feel bad for the dedicated employees who were laid off so the ELT can line their own pockets, and also for Cigna customers. Service is going to go down the drain.
@eq Right. So in that sense the severance package is better than the VRP. So I’m not sure I understand that person’s concern.
Yes, the sad reality is that Cigna does not care about any of us at all...period! It's sad because after working here for many years we start to feel like we belong, make friends and work with good colleagues etc... but I see plenty of good people tossed aside like garbage. Absolutely disgusting to lay someone off on Chemo.... really Cigna? I'm in the prime layoff group at 58 years old and been here for 16 years.... dogged a bullet for this round but won't be surprised if I get chosen in the future. Wishing all those impacted the best... stay positive... Cigna does not define you! Connect to as many as possible on Linkedin I'm seeing people come together to help those impacted get another job... probably better than your old one :)
@df Except that with the VRP you don’t get 45 days paid until severance starts. We had to work right up to our last day.
@c5 Sorry to hear you were impacted. Me too - I’m 55 with 16 years at Cigna. It does seem that people over 50 were targeted.
@c5 What are you worried about ? The VRP and severance packages are essentially the same.
I can relate. Despicable company!
It’s awful. Makes me nervous that I didn’t accept the VRP and that I’ll be laid off. Although most of the people around me laid off were 20s and 30s so it seems ages are all over the board
@bz Good grief now I am more grateful I got laid off in my 30s. Would not have been able to stay knowing that someone in chemo was laid off at a health care company I am working at.
All while hiring very unqualified people in India. Looking at some posts I can tell nepotism got them the job.
JE last year. Had 22 years in and I know of several others that also had 20 plus years in and all over 45 yrs old. One was on chemotherapy. Disgusting that employees get discarded like this while c-suite still gets their multimillion paychecks.
Were you offered the VRP or laid off
They are moving your job to India. Welcome to the new reality.
Me too- 14 years. Above target bonuses each year
I am so sorry!