CVS to lay off 2,900 employees amid reports of strategic review

Healthcare DIVE October 1, 2024
Rebecca Pifer

CVS is cutting 1% of its workforce as the healthcare behemoth pursues a massive cost-cutting plan — and considers a potential breakup of its businesses.

Dive Brief:

• CVS plans to lay off 2,900 workers amid swirling reports that the healthcare behemoth is undergoing a strategic review, including a potential breakup of its businesses.
• The layoffs, which were confirmed by a CVS spokesperson, will affect about 1% of CVS’ 300,000 employees.
• CVS unveiled a plan to cut $2 billion in costs this summer in a bid to bolster flagging operational performance amid rising costs for its health insurance arm Aetna and shaky reimbursement at its pharmacies.

Dive Insight:

The layoffs will mostly affect corporate positions. No frontline workers in...

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