Aetna Cutting 1250 Jobs

Health Insurance Giant Aetna says it will cut 1250 jobs, 625 now and another 625 in the first quarter of 2010. The company also plans to merge some of its field offices to reduce real estate expenses, but won’t be exiting any markets as a result. Although Aetna posted an 18% increase in third quarter profits, it expects fourth quarter results to be effected by flu related medical costs. Aetna shares closed down 6 cents on trading today.