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.
2025-05-03 01:37282 view
2025-05-03 01:281700 view
2025-05-03 01:031291 view
2025-05-03 00:532280 view
2025-05-03 00:251701 view
2025-05-03 00:042764 view
Reporter Alexi Horowitz-Ghazi's Aunt Vovi signed up for 23andMe back in 2017, hoping to learn more a
With Donald Trump barred from publicly attacking the key witness in his hush money trial, his campai
Meghan Markle's angelic look included a special tribute to Princess Diana.The Duchess of Sussex made