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A major electric company is planning to cut Connecticut finance jobs.

General Electric Co. recently announced its plan to cut jobs and costs next year from GE Capital, based in Fairfield, Connecticut. The plan will save $2 billion in costs as the company slows lending in some businesses, considers others for potential sale and cuts jobs. The cuts, which will effect some of GE Capital’s 75,000 positions, will begin Jan. 1, 2009. Positions will be reduced as the company consolidates back offices and curbs lending in areas such as residential mortgages, according to an article by Bloomberg.

“Broadly, in a world where we think liquidity is an issue and is likely to remain an issue for a while, we’re de-emphasizing in general product lines that attract a lot of debt for the amount of earnings,” Vice Chairman Michael Neal said in the article.

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One large health insurance company is considering cutting Connecticut insurance jobs.

Aetna recently announced that some job cuts are likely. While the company is currently doing better than many of its competitors, according to an article by the Hartford Courant, some jobs will probably be cut in the company’s effort to protect its competitive edge as the economy continues to declie. Aetna provides health, dental, pharmacy, group life and disability insurance.

“We will pursue all appropriate options to reduce costs, including selective reductions in staff,” Ronald A. Williams, chairman and chief executive, said in the article.

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While AT&T Inc. recently announced its plans to make cuts, officials are doing their part to save customer service jobs in Connecticut.

Connecticut Attorney General Richard Blumenthal last week asked state regulators to block any cuts pending an investigative hearing. However, according to an article by the New Haven Register, regulators do not normally get involved in labor issues.

AT&T announced in October that it planned to close its Meriden call center, eliminating 60 jobs and relocating the work to Michigan. Anyone losing a job would have the option of applying for another job within the company in Connecticut.

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