BUSINESS BRIEFING / HEALTHCARE
Times Staff and Wire Services
Managed-care provider Cigna Corp. said the slumping economy had forced it to cut about 1,100 jobs as it deals with employer customers who also are making cuts and reducing the number of people covered by insurance.
The Philadelphia insurer will cut about 1,000 U.S. positions and 100 outside the country. The layoffs amount to about 4% of its workforce of about 28,000.
Cigna has said it expects about a 2% decline this year in membership, which stood at 11.9 million people at the end of last year’s third quarter.
