Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Practice Management > Building Your Business

Aetna To Cut 650 Jobs

Your article was successfully shared with the contacts you provided.

A large health insurer says it is trying to trim expenses and reduce the number of management layers coming between it and its customers.

Aetna Inc., Hartford, will be eliminating 200 management positions and 450 rank-and-file positions in connection with the realignment, the company says.

The 650 job cuts will affect about 2% of Aetna’s 30,000 employees.

“I view these actions aimed at efficiency and simplification as necessary in a dynamic business environment,” Aetna Chairman Ronald Williams says in a statement about the job cuts.

Aetna plans to record a $20 million charge in the fourth quarter in connection with severance costs and other costs associated with the realignment, the company says.

Aetna will release its third-quarter earnings Oct. 26.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.