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.

CVS
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10/01/2024 1:10 p.m.

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 1963 in Massachusetts, CVS, originally named the Consumer Value Stores, has around 9,900 locations.

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