http://www.bloomberg.com/apps/news?pid=20601087&sid=aSPZ4DT5QYok&pos=7 â¢Aetna to Cut 625 Jobs, Pare Similar Number Next Year as Medical Costs Rise Aetna Cutting About 625 Jobs, Will Pare More in 2010 (Update1) Share Business ExchangeTwitterFacebook| Email | Print | A A A By Alex Nussbaum Nov. 18 (Bloomberg) -- Aetna Inc., the third-largest U.S. health insurer, said itâs cutting about 625 positions and plans to eliminate a similar amount next year as it copes with the recession and the potential impacts of the U.S. health overhaul. The insurer will take a $40 million after-tax charge as a result of todayâs cuts and make the next round by the end of first quarter of 2010, the Hartford, Connecticut-based company said in a statement. Aetna also plans to consolidate field offices in some areas to reduce real estate costs, the company said. Chief Financial Officer Joseph Zubretsky said last month that Aetna plans to shed more than 600,000 members and raise premiums in 2010 to cope with rising medical prices. In todayâs statement, Chief Executive Officer Ronald Williams said the company also needs to prepare for the effects of the health overhaul, which may impose new taxes and create a government-run plan to compete with private insurers. âStreamlining our business now will enable us to improve our competitiveness and redirect resources to areas with a greater potential for future growth,â Williams said. âWorking from a position of strength, we should be able to manage through the evolving environment.â Aetna doesnât plan to exit any current markets as a result of the cuts, it said. The company has about 35,500 workers. Aetna lost 6 cents to $29.21 in New York Stock Exchange composite trading at 4:15 p.m. The shares have risen 2.5 percent this year. To contact the reporter on this story: Alex Nussbaum in New York anussbaum1@bloomberg.net. Last Updated: November 18, 2009 16:43 EST