Aetna cutting 625 jobs, plans additional cuts in the 1st quarter citing economy, reform

Aetna cutting 625 jobs, plans future cuts

NEW YORK — Health insurer Aetna says it will cut 625 jobs, or nearly 2 percent of its staff, and will make a similar job cuts in the first quarter of 2010 due to the lagging economy and the potential impact of health care reform.

Aetna Inc. expects to book a $40 million restructuring charge related to the current layoffs. It will disclose the financial impact of future layoffs when those decisions are made.

The Hartford, Conn.-based company is not leaving any of its markets but will consolidate field offices to reduce real estate costs.