CVS Health is eliminating approximately 2,900 corporate roles, targeting $2 billion in savings. This decision responds to economic pressures and consumer spending shifts affecting the healthcare sector.
The company stated, 'CVS Health's management team and Board of Directors are continually exploring ways to create shareholder value,' amidst a challenging landscape for pharmacy chains.
Employees affected by the layoffs will receive severance, benefits, and access to outplacement services. The majority of impacted colleagues will be notified this week.
CVS's integrated business model, which includes its drugstore chain and Aetna health insurance, has been a crucial advantage as they navigate economic challenges.
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