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Thread: Aetna CEO Mark Bertolini Threatens Layoffs If Fiscal Cliff Deal Fails

  1. #11
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    Re: Aetna CEO Mark Bertolini Threatens Layoffs If Fiscal Cliff Deal Fails

    Quote Originally Posted by Fisher View Post
    From the article:

    "Debt deal or not, Aetna will likely have to restructure its business in the wake of its recent merger agreement with Coventry Health Care. That may mean layoffs, even as the company adjusts to an influx of new customers thanks to the implementation of Obamacare."
    I would reasonably assert that these types of mergers usually always result in layoffs, as there are too many similar jobs at the 2 companies once together.

    Such duplicity, or job overlap, is inevitable, and the elimination of these jobs results in lower operating costs while maintaining the same overall customer base.
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    Re: Aetna CEO Mark Bertolini Threatens Layoffs If Fiscal Cliff Deal Fails

    Quote Originally Posted by rocket88 View Post
    Aetna CEO Mark Bertolini Threatens Layoffs If Fiscal Cliff Deal Fails [UPDATE]



    Is threatening layoffs just the new normal now? "Give us what we want or suffer the consequences." "Vote for my preffered candidate, or get fired." "Cut taxes or there will be layoffs." Now it's "Raise taxes or there will be layoffs."

    Oy!
    He didn't "threaten" anything. That's the HuffPo's histrionic language (accompanied by a suitably-menacing photo). A far more measured description is in the source article they linked to:

    WASHINGTON--Aetna Inc. Chief Executive Mark Bertolini, who is among a dozen chief executives meeting with U.S. President Barack Obama later this week, on Monday warned that companies are preparing backup plans that include layoffs if the White House and congressional leaders are unable to reach a deal to avoid the combination of tax increases and spending cuts known as the "fiscal cliff."


    "The American people are going to suffer because we'll lay them off--because we know how to respond to these kinds of situations," Mr. Bertolini warned at a Wall Street Journal CEO Council event.
    The comments come seven weeks before the Jan. 1 date on which spending cuts and tax increases take effect. Mr. Obama and U.S. House Speaker John Boehner (R, Ohio) last week each defended their competing plans for resolving the budget fight, even as they opened the door to a potential compromise. Mr. Obama meets with Democratic and Republican congressional leaders next Friday--after he has received input from executives and labor leaders.


    The Congressional Budget Office has warned of a recession if leaders fail to act. Mr. Bertolini--who said in an interview that he is presenting contingency plans to his own board in two weeks--used Aetna as an example of how real-world layoffs could be set in motion.


    "We have contingencies built in and as we watch the economy develop, we make decisions along the way: Do we release capital expenditures? Do we open up hiring?" he said. "Our goal so far is to freeze headcount until we know where the economy is headed."
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  3. #13
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    Re: Aetna CEO Mark Bertolini Threatens Layoffs If Fiscal Cliff Deal Fails

    Quote Originally Posted by Harshaw View Post
    He didn't "threaten" anything. That's the HuffPo's histrionic language (accompanied by a suitably-menacing photo). A far more measured description is in the source article they linked to:

    It's strange that rather than comment on what he said, you'd rather go after the source. I knew what he meant because I heard him on NPR giving some context. A very reasonable gentleman, but apparently he wants Congress to compromise with Obama. Strange that you'd have nothing to say about that.


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    Re: Aetna CEO Mark Bertolini Threatens Layoffs If Fiscal Cliff Deal Fails

    Quote Originally Posted by rocket88 View Post
    It's strange that rather than comment on what he said, you'd rather go after the source. I knew what he meant because I heard him on NPR giving some context. A very reasonable gentleman, but apparently he wants Congress to compromise with Obama. Strange that you'd have nothing to say about that.
    Strange that you think I didn't comment on what he said. To wit: "he didn't 'threaten' anything."

    Nor did I "go after the source," I commented on how they presented it, which was, indeed, histrionic.
    “Offing those rich pigs with their own forks and knives, and then eating a meal in the same room, far out! The Weathermen dig Charles Manson.”-- Bernadine Dohrn

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