Aetna Inc.

Jobs Cut: 1,000

Managed-care company Aetna (AET) plans to cut 1,000 jobs, or about 3% of its workforce to cut costs, the company announced Dec. 17. The Hartford (Conn.)-based health insurer said 375 positions will be eliminated in Connecticut and 165 will be cut in Pennsylvania. The third-largest managed care company in the U.S. is losing business as employers cut jobs of formerly insured employees. "These actions will reduce our operating costs and allow us to manage through the economic downturn from a position of strength," Aetna Chief Executive Ronald A. Williams said in a statement. "The fundamentals of our business are solid, and we continue to win in the marketplace."