Aetna to cut 625 jobs, more in 2010

Hartford (AP/WTNH) - 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.

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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.

Last December 375 job cuts were announced just in Connecticut. And an employee says it's tough to work while looking over your shoulder for bad news.

"There have been some rumors around the last couple of months and it's basically like trying to avoid lightening," said one employee.

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