Aetna to Slash Workforce

Aetna, based in Conn., is the third-largest U.S. health insurer

Health insurer Aetna Inc. says it will eliminate 1,000 jobs, or about 2.8 percent of its work force, to reduce costs.

The Hartford, Conn., company says it will take a charge of about $35 million in the fourth quarter along with the moves. It says the job cuts will allow it to reduce administrative expenses and focus on areas with greater potential growth, but did not specify what business areas or regions will be involved in the changes.

Aetna -- the third-largest U.S. health insurer -- employs 36,208 people. It has about 37.2 million members.

The company said last month it would cut staff and reduce costs as it deals with the U.S. recession and job losses, which is swelling the ranks of the uninsured.

Copyright AP - Associated Press
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