Aetna expects up to $65M charge in 4Q

NEW YORK - Health insurer Aetna Inc. says it expects a fourth-quarter charge of up to $65 million to cover costs for a previously announced series of layoffs and office consolidations.

In November, the company, which has operations in Blue Bell, Montgomery County, announced plans to cut 625 jobs, or nearly 2 percent of its staff. It also said it would make a similar number of cuts by the end of 2010.

Aetna expects to employ about 34,300 employees when the layoffs are complete in the first quarter of 2010.