Thread regarding Cigna layoffs

Cigna Reports $1 Billion Profit Ahead Of Insurer’s Shift From Medicare

Forbes:
The Cigna Group reported a $1 billion profit in the fourth quarter on solid growth of its health insurance plans and Evernorth health services.

The company’s fourth quarter and full year 2023 earnings report, which showed total medical customers grew 10% to 19.8 million, comes following news this week that Cigna was selling its Medicare businesses and a provider services operation to Health Care Service Corp. for more than $3 billion.

https://www.forbes.com/sites/brucejapsen/2024/02/02/cigna-reports-1-billion-profit-as-health-insurer-shifts-from-medicare/?sh=28f361a45e07

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| 1471 views | | 3 replies (last February 8, 2024) | Reply
Post ID: @OP+1qS8M3dn

3 replies (most recent on top)

I've heard "average"raises and "not fully funded bonuses" and with profit like this + massive layoffs? The least they could do is treat those of us still here decent, such a lack of respect considering the COL rise we've gone through, 2-3% doesn't cut it anymore- they know this- they don't care.

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Post ID: @6ofi+1qS8M3dn

Executives have no shame; they flat out lied to us telling us we have overspent and are hurting the company bottom line. They made us cut funding to so many projects and went on an job elimination spree getting rid of some very important tenured people. Now it turns out that we made 1 billion in profit. They disgust me. Meanwhile the Cooperate community and shareholders pat the executives on the back rewarding them while we Employees are left with a bad taste in our month.

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Post ID: @4duj+1qS8M3dn

1 Billon.... with a B in Profit! Not Revenue.. PROFIT!

What happed to all those "headwinds" you spoke about David? Why we have to cut operation expenses and eliminate positions? I knew you were full of cr-p and lied to us. All of these layoffs and budget cuts was to increase profits to line your pockets.

Merit increases and bonus this year for Cigna employees oughta be good right? if Cigna profit is so good, that means Cigna should have more than enough to give it's employees good bonus and merit increase. Cost of living for everyone increased big time over the last year so we should expect our "awesome" employer who just scored big in profit to pay us a fair wage to live in todays economy.

We all know too well Cigna's and David greed, I'm sure they will give us a "standard" merit and basic bonus. Meanwhile I'm sure the board will compensate David very generously for this.

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Post ID: @iwq+1qS8M3dn

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