Aetna Expects Restructuring-Related Charges Of $60M To $65M

Aetna Inc. (AET) expects fourth-quarter restructuring-related charges to total $60 million to $65 million for work-force reduction plans unveiled last month in an effort to align its cost structure with projected 2010 membership.

The health insurer in November said had cut 1.8% of its work force and planned a similar reduction at the end of the first quarter.

The planned fourth-quarter charges include $40 million for a completed headcount reduction of 625 workers and real-estate consolidation. Aetna expects a charge of $20 million to $25 million for the first-quarter downsizing.

Shares were down 1.9% at $32.22 in recent premarket trading. The stock through Tuesday's close was up 15% for the year.

Read Full Article from Wall Street Journal

- Posted: 2009-12-30 09:13:47

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