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Nov 18, 2009 4:31 PM by Associated Press

Aetna cutting 625 jobs, plans future cuts

Health insurer Aetna says it will cut 625 jobs, or nearly 2 percent of its staff, and will make a similar job cuts in the first quarter of 2010 due to the lagging economy and the potential impact of health care reform.

Aetna Inc. expects to book a $40 million restructuring charge related to the current layoffs. It will disclose the financial impact of future layoffs when those decisions are made.

The Hartford, Conn.-based company is not leaving any of its markets but will consolidate field offices to reduce real estate costs.

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