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Cost Cutting

Business
CVS To Open Pharmacy-Only Locations Amid Store Closings, Corporate Layoffs CVS To Open Pharmacy-Only Locations Amid Store Closings, Corporate Layoffs
CVS To Open Pharmacy-Only Locations Amid Store Closings, Corporate Layoffs CVS is rolling out a new wave of smaller-format pharmacies in select communities nationwide as it tries to adapt to changes in the retail world. CVS plans to open at least a dozen of these compact pharmacies nationwide in 2025, a spokesperson confirmed to Daily Voice on Monday, Mar. 10. The pharmacy-only locations aim to improve access to medications, immunizations, and pharmacist-provided health care services. Each location will average less than 5,000 square feet, with a full-service pharmacy and a limited selection of over-the-counter products tailored to a community. "By taki…

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by Chris Spiker
Business
CVS To Lay Off Nearly 3K Workers CVS To Lay Off Nearly 3K Workers
CVS To Lay Off Nearly 3K Workers CVS announced it will lay off nearly 3,000 workers as part of a cost-cutting move aimed at saving $2 billion. These approximately 2,900 layoffs, primarily in corporate roles in the company's CVS Health division, represent less than 1 percent of the company's workforce, CVS said.  "The reductions will not impact front-line jobs in our stores, pharmacies and distribution centers,” a CVS spokesperson told CNN. The move comes a day after CVS management met with major shareholder Glenview Capital to discuss the company’s deficits and its dipping stock price, according to CNBC. Founded in…

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by Joe Lombardi
News
Snail Mail? New USPS Standards To Delay Some Delivery Times Now Set To Start Snail Mail? New USPS Standards To Delay Some Delivery Times Now Set To Start
Snail Mail? New USPS Standards To Delay Some Delivery Times Now Set To Start The new service standards that could slow down some United States Postal Service delivery times are set to go into effect. Postmaster General Louis DeJoy's plan includes slowing the delivery of first-class mail in an effort to cut costs.  Forbes reported that the new standards will go into effect on Friday, Oct. 1.  The news outlet said first-class mail will be transported by trucks instead of airplanes in the new plan. DeJoy previously said that the goal is to ensure the long-term financial stability of the post office. The plan has received criticism from the US Postal Servic…

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by Nicole Valinote