Aetna eyes charge against earnings
NEWS IN BRIEF — Posted Jan. 18, 2010
The country's third-largest private health insurer anticipates a $60 million hit this year due to the expense of layoffs and real estate cost-cutting.
Aetna, based in Hartford, Conn., announced in November 2009 that it was eliminating 625 jobs in the fourth quarter of 2009 and planning another set of layoffs early in 2010.
The anticipated charge, announced Dec. 30, 2009, also is due in part to real estate consolidation.
Aetna executives in an Oct. 29, 2009, conference call discussed losing less profitable business by raising premiums.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2010/01/18/bibf0118.htm.