Technology upgrades, market exits send thousands to unemployment line

February 1, 2002

National Reports-The proverbial axe has fallen, with Aetna eliminating6,000 jobs (about a sixth of its workforce) and Santa Ana, Calif.-basedPacifiCare eliminating 1,300 jobs (about 15% of its workforce). Both healthplans cite exiting certain Medicare markets as a major reason for the staffreductions.