Woonsocket, Rhode Island (WPRI) — CVS Health plans to lay off about 3,000 employees nationwide, a company spokesperson confirmed Monday.
CVS spokesperson Mike DeAngelis said in a statement to Nexstar's WPRI that the pharmacy giant is cutting 2,900 jobs due to “ongoing disruption, regulatory pressures, and evolving consumer needs and expectations.” Ta.
“It is important to remain competitive and operate at peak performance,” DeAngelis added.
He said 1% of the workforce would be subject to redundancies, and that the main reductions would be in corporate roles.
“The cuts will not impact front-line jobs in our stores, pharmacies and distribution centers,” DeAngelis said.
DeAngelis said the layoffs are part of a $2 billion cost-cutting plan aimed not only at reducing expenses, but also investing in technology that enhances efficiency and workflow. The layoffs come as the company faces operational challenges.
“Before taking this action, we prioritized cost reductions where we could, including closing open job postings,” DeAngelis explained. “Deciding which positions to eliminate was extremely difficult, but it will not diminish the value that our impacted colleagues brought to the company.”
DeAngelis said the majority of affected employees will be notified this week, but stressed that the layoffs are “company-wide and not specific to a single office.”
A spokesperson told CVS: Plan to submit Worker Adjustment and Retraining Notification (WARN) notices will be issued next week in Rhode Island, where the company is headquartered.
The WARN Act is a federal law that requires employers with 100 or more full-time workers to notify states 60 days in advance of mass layoffs. A company may close or eliminate a facility with more than 50 employees, lay off between 50 and 499 employees if that number represents at least 33 percent of the company's workforce, or once This must be followed if you are laying off 500 or more employees. site.
“We are committed to supporting these colleagues as they receive severance pay and benefits, including access to outplacement services,” DeAngelis said. “We remain focused on our mission to continue providing the excellent care and support that our patients, members, clients and customers deserve and trust.”
Dismissal occurs after more than one year CVS cut 5,000 jobs To reduce expenses.
