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Cigna cuts 1,100 jobs, expects charge of $40 million

 |  By HealthLeaders Media Staff  
   January 06, 2009

Philadelphia-based health Insurer Cigna Corp. said it will cut about 1,100 jobs and take a fourth-quarter after-tax charge of $30 million to $40 million for 2008. The company's 4% workforce reduction will be complete by the middle of the year, and some offices will be consolidated. A declining stock market and the recession have eroded the earnings outlook for Cigna.

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