Aetna to Cut 650 Jobs

October 13, 2006

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.

Senior Vice President and 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. “While we continue to be pleased with our financial performance for 2006, we believe that today’s action will help the company achieve a more competitive cost structure for the future. Although this is very difficult for those affected, these actions will help assure our continuing long-term success in the marketplace,” he said.

Source: Aetna

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