Hartford health insurer Aetna announced on Wednesday that it is laying off about 1,200 people by the end of the first quarter 2010, including 160 immediate cuts in Connecticut.
Ronald A. Williams, chairman and CEO of Aetna, said the job cuts are a result of declining enrollments caused by their business customers employing less people as a result of the economic downturn, as well as the threat of health care reform and regulatory changes being proposed by the federal government.
“Streamlining our business now will enable us to improve our competitiveness and redirect resources to areas with a greater potential for future growth,” Williams said.
Aetna employs about 35,500, with 7,000 in Connecticut. Aetna will lay off 625 employees now, and then a similar amount by the end of the first quarter 2010.
This is the second round of layoffs at Aetna over the past year. Last December, the company eliminated 1,000 positions, including more than 300 in Connecticut.
