This article was published less than an hour ago. It's pretty vague, but at least it's a start at publicizing Cigna's recent actions.
https://www.beckerspayer.com/workforce/cigna-reduces-workforce.html
9 replies (most recent on top)
Hi, I'm a reporter at POLITICO, interested in hearing more about these recent layoffs. Email me at khooper@politico.com. Happy to provide my number on Signal as well.
Just a reminder to Spend your standout points, get peoples contact info, schedule what appointments you can for your health care, refill what prescriptions you can. Use your CEU days and Volunteer days asap. Oh!! And earn what incentives you can now. The HSA will be deposited after Jan.
Found this article from 2004, before I joined the company. They've done this before. According to the article almost 9% of the company was laid off to reduce operating costs. Close to the 10% that some people are saying will happen over the next few months.
https://www.newson6.com/story/5e367e7e2f69d76f62091f51/health-insurance-giant-cigna-to-cut-3000-jobs-to-reduce-operating-costs
McKinsey usually is the firm that suggests layoffs. And they are one of our clients so that makes sense
Journalist here. I'm looking to speak with people affected by layoffs at Cigna and other insurers. Email me at kayla.webster@ft.com
I bet Cigna paid some consulting group millions to design this layoff plan to let employees go as quiet as possible so not to hurt it's stock. It's most likely the reason FOW was created in the 1st place. Entice people to quit without severance by making the illogical requirement of going into an office when they been remote even before covid. Then slowly ramp up on Layoffs. Keep in mind 10/12 was NOT the the 1st wave, there already have been layoffs going on throughout the year. I personally know of over 20 employees laid off in spurts during spring and summer. This layoff is designed to be quiet and under the radar. Cigna leadership doesn't have the skill to create something like this themselves hence why I strong suspect they hired a consulting firm to design this for them. Hopefully we can get the word out.
I think the point might be that the company is being very good at keeping the scope of terminations under wraps, making it hard/impossible to report on. This behavior does not seem typical for all companies. For example in the link below, you can compare # of job terminations per company to that listed for UnitedHealth. There's no report of total employees terminated by UnitedHealth in August, whereas there are for the other companies.
https://www.beckerspayer.com/workforce/8-payers-cutting-jobs.html
Did anyone here provide any substantive updates or facts to the media? If not, of course articles are going to be vague
Unfortunately the vague narrative seems similar to UnitedHealth's recently. An article was published on 10/12 without any substantive updates regarding layoffs that seem to have occurred there back in August.
https://www.beckerspayer.com/payer/layoffs-hit-optum.html