Aetna Planning Job Reductions
The economic downturn is to blame, the company’s CEO says. A spokesman doesn’t say when the cuts will come or how many employees will be affected.
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November 13, 2008
Aetna Planning Job Reductions
Aetna Inc. is planning staff cuts as the health insurer expects the
economic downturn to extend into 2009.
An internal memo was sent to employees of Hartford, Connecticut-based Aetna
by Ronald Williams, chairman and CEO, explaining that “selective” cuts would
need to be made as a result of the economic slowdown, an Aetna spokesman
confirmed.
The spokesman provided no further details on when the cuts would come or how
many employees would be affected.
Aetna previously reported that its third-quarter net income dropped 44
percent, to $277.3 million, primarily due to investment losses. Meanwhile, the
insurer reported that enrollment was up 1 percent, to $17.7 million, for the
quarter.
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