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Job Layoffs

Cigna Can Cut As Many As 700 Jobs And Still Collect State Incentives

Cigna Can Cut As Many As 700 Jobs And Still Collect State Incentives

Cigna Corp., the first company to gain a multimillion-dollar incentive deal under Gov. Dannel P. Malloy's First Five program, can continue to receive state tax credits even if it cuts 700 jobs over the next six years. Cigna's agreement to merge into Anthem Inc. — a $54 billion deal announced Friday — does not affect the $51 million aid package, state economic development officials said. Malloy announced the incentives for Cigna in July 2011, soon after the First Five program was created as a way of boosting rewards and incentives for companies that hire at least 200 people and invest at least $25 million in Connecticut operations. At the time of Malloy's...

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