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.
2025-04-29 02:531950 view
2025-04-29 02:362554 view
2025-04-29 02:342809 view
2025-04-29 02:292341 view
2025-04-29 01:402170 view
2025-04-29 01:36829 view
You're pulling your hair out, trying to fix something on your computer. You Google it and find what
Angel Reese isn't going to let this criticism travel.After fans faulted the Chicago Sky player for a
A smiling Prince Harry waved to the crowd as he arrived for a church service at London's St. Paul's