2024-10-02 02:45:04
CVS Health said Monday that it will lay off about 2,900 people amid pressure from investors to cut costs and improve its financial performance. And more dramatic changes could be coming soon.
A spokesperson for the health care giant, which has long been based in Woonsocket, R.I., and operates health insurer Aetna in Hartford, confirmed the cuts, which will primarily fall on corporate roles. Late Monday, news service Reuters reported that the company is considering an even bigger move — splitting its pharmacy chain and its insurance business — though no final decisions have been made.
A spokesperson declined comment to Reuters on a potential breakup, but did confirm the layoffs to the Globe, saying they were part of a $2 billion cost-cutting plan designed to improve the company’s financial performance. The job cuts will be companywide, “not isolated to a single corporate office or state,” the spokesperson said, and amount to less than 1 percent of the company’s headcount.
Already have an account? Log in
2024-10-02 08:05:03 Actor Ken Page showed his Show-Me State colleagues that a Midwesterner really can…
Japan’s Prime Minister Fumio Kishida steps down as planned before his likely successor Shigeru Ishiba…
2024-10-02 07:55:02 Once the Baltimore Orioles officially locked up their place in the 2024 postseason,…
Some of the town squares and tree-lined streets in south central Pennsylvania are political battleground…
2024-10-02 07:40:03 The Kansas City Royals and Baltimore Orioles play in the wild-card round of…
2024-10-02 07:30:03 Alden Gonzalez, ESPN Staff WriterOct 1, 2024, 05:52 PM ETCloseESPN baseball reporter. Covered…