January 07, 2003 at 07:00 PM
NU Online News Service, Jan. 7, 4:31 p.m. – CIGNA Corp., Philadelphia, says the restructuring of its managed care unit announced in October 2002 will eliminate 3,900 jobs and cost $150 million before taxes.
CIGNA is spending the money to realign its sales organization, centralize medical management services and streamline back-office operations.
The head count reduction includes 700 employees whose jobs were eliminated in November 2002 and 2,150 whose jobs will be eliminated by March 31, CIGNA says.
CIGNA is predicting that the changes will increase sales, improve efficiency and save about $100 million.
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