Hartford-based health benefits giant Aetna said that it would cut about two percent of its 30,000 workforce or 650 positions as part of a new streamlining effort.
The layoffs will include nearly 200 employees in management positions.
“These actions are focused squarely on our future and making certain that Aetna is well positioned to take advantage of new opportunities with an efficient and flexible customer-focused operating structure,” said Chairman and CEO Ronald A. Williams.
Chief Financial Officer Alan M. Bennett said that Aetna has been taking actions over the past several years to operate more efficiently, while at the same time investing heavily in new products, technology and customer service.
Bennett said the company is pleased with its financial performance for 2006, but believes that the layoffs are necessary to remain competitive. “Although this is very difficult for those affected, these actions will help assure our continuing long-term success in the marketplace,” he said.
Was this article valuable?
Here are more articles you may enjoy.
Acrisure to Buy MGA Vave From Canopius 
Owner of Historic Minnesota Resort Charged With Arson, Insurance Fraud 
Chubb, The Hartford, Liberty and Travelers Team Up on Surety Tech Launch 
Man Sentenced for Flashing Three Insurance Agencies in Georgia From This Issue
