Aetna Inc. plans to cut 5,000 jobs, or 13 percent of its work force, and take an estimated $565 million in charges in the fourth quarterin an effort to cut costs and boost profits.
The move is Aetna’s first step in an effort to settle problems in its health insurance business since it completed the sale of its international and financial services businesses to Dutch insurer ING Groep last week. Aetna now plans to increase prices significantly, exit unprofitable markets and products, and cut expenses beyond those resulting from market exits and lower membership.
Topics Talent
Was this article valuable?
Here are more articles you may enjoy.
Viewpoint: Why Florida Property Insurance Rates Might (and Might Not) Keep Falling 
Florida-Based Safepoint Withdraws IPO Just as it Was Expected to Launch 
PE-Backed Insurance Broker Hub International Files Confidentially for US IPO 
‘Ghost Broker’ Who Procured 1,120 Policies Through Fraud Arrested 
