Aetna layoffs, on the record
Every job cut, severance charge and restructuring Aetna reported in its annual reports, 2015 to 2017, quoted from the filings. Headcount went from approximately 50,100 to approximately 47,950.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2015 | approximately 50,100 | December 31, 2015 |
| 10-K for 2016 | approximately 49,500 | December 31, 2016 |
| 10-K for 2017 | approximately 47,950 | December 31, 2017 |
Job cuts, severance and restructuring
Our summaryCompany recorded a voluntary early retirement program expense in 2016 tied to a previously announced program.
Word for word“Net income attributable to Aetna decreased $119 million in 2016 compared to 2015 primarily due to an increase in restructuring costs which include a $215 million ($330 million pre-tax) expense recorded during 2016 related to our previously announced voluntary early retirement program, higher transaction and integration-related costs and the favorable impact of litigation-related proceeds recorded during 2015.” 10-K for 2016
Our summaryCompany incurred restructuring costs for 2016 covering the voluntary early retirement program, severance and real estate consolidation under an expense management and cost control initiative, plus an accrual for minimum volume commitments.
Word for word“Restructuring costs for 2016 include costs related to our voluntary early retirement program, severance and real estate consolidation costs associated with our expense management and cost control initiative and an accrual for minimum volume commitments which require us to make payments to suppliers if the level of medical membership subject to the agreements falls below specified levels.” 10-K for 2016
Our summaryCompany recorded severance costs under its expense management and cost control initiative in 2015.
Word for word“Restructuring costs for 2015 include severance costs associated with our expense management and cost control initiative.” 10-K for 2016
Our summaryThe company recorded 2017 restructuring costs for severance tied to its expense management and cost control initiatives.
Word for word“Restructuring costs for 2017 i nclude severance costs associated with our expense management and cost control initiatives.” 10-K for 2017
| Fiscal year ended | Severance costs | Restructuring charges |
|---|---|---|
| 2016-12-31 | $330 million | $404 million |
| 2017-12-31 | — | $60 million |
Aetna has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Aetna’s annual reports (10-K for 2017, 10-K for 2016, 10-K for 2015) and the financial data it files with the SEC, as of 2018-02-23. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.