CVS Health plans to lay off nearly 200 employees, as indicated in a notice filed under the Workers Adjustment and Restraining Act on February 28. While the majority of these workers are remote and live out of state, only three are Massachusetts residents. The layoffs will occur by May 3, as part of a broader effort to cut costs, building on previous announcements to reduce workforce by thousands. A CVS spokesperson confirmed that impacted employees will receive severance, benefits, and outplacement services, underscoring the company's commitment to assist them.
CVS Health is laying off nearly 200 employees, primarily remote workers, with only three living in Massachusetts. Most affected employees live out of state.
A CVS spokesperson indicated that these layoffs align with a long-term strategy to achieve $2 billion in savings, continuing previous job cuts.
The cuts by CVS Health, set to be completed by May 3, reflect ongoing restructuring efforts by the company to optimize operations and costs.
Affected employees will receive severance pay, benefits, and access to outplacement services as CVS expresses commitment to support them through this transition.
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