CVS is laying off about 5,000 workers in a move to cut costs, the pharmacy chain said Tuesday.
The cuts will affect "non-customer facing positions across the company," CVS said in a statement, adding, "We do not expect there to be any impact to our customer-facing colleagues in our stores, pharmacies clinics, or customer services centers."
"Throughout our company's history, we've continuously adapted to market dynamics to lead the industry. The difficult decision we are making will set the company up for long-term success," said the Rhode Island-based chain.
The company employs about 300,000 people nationwide.
The Wall Street Journal, which first reported the news, said the changes are part of CVS' effort to focus on health services and include a reduction in travel costs and less reliance on pricey consultants. In recent years, the chain has added more primary care offerings and expanded its "HealthHub" store layout.
In 2021, CVS announced it was closing 900 stores, amounting to nearly 10% of its footprint, in response to the changing of "consumer buying patterns."
The company is set to report quarterly earnings on Wednesday.
2025-05-01 18:30360 view
2025-05-01 18:282697 view
2025-05-01 16:46749 view
2025-05-01 16:402657 view
2025-05-01 15:562800 view
2025-05-01 15:55522 view
The average rate on a 30-year mortgage in the U.S. eased for the third week in a row, a welcome tren
BEVERLY HILLS, Calif. (AP) — Jamie Foxx required stitches after getting hit in the face with a glass
NEW YORK – This was not a pretty sight for Yankees Universe.On the other side of town, Juan Soto bea