CVS To Cut Nearly 3,000 Jobs Nationwide: Reports

WOONSOCKET, RI — CVS, the New England-based pharmacy and retail chain, is set to lay off around 2,000 employees nationwide as part of a money-saving plan, according to multiple reports.

CVS Health is headquarterd in Woonsocket. The layoffs, which will mainly affect corporate positions and not jobs inside stores, pharmacies, and distribution centers, will include cuts to the workforce at the Hartford-based health insurer Aetna, according to FOX61.

In a statement from CVS spokesperson Mike DeAngelis obstained by both FOX61 and WPRI, DeAngelis cited "continued disruption, regulatory pressures and evolving consumer needs and expectations" as contributing factors to the need for layoffs.

DeAngelis said the cuts will also help the company achieve its goal of increasing cost saving by $2 billion over the next several years.

"Before taking this step, we prioritized finding cost-saving everywhere we could, including closing open job postings," DeAngelis added. "Decisions on which positions to eliminate were extremely difficult and do not diminish the value that impacted colleagues have brought to the company."

The Wall Street Journal was the first to report last summer that CVS Health was set to slash around 5,000 jobs.

CVS Health employed over 300,000 people at the time. The company operates more than 9,000 retail locations and 1,100 walk-in clinics in the United States.

It completed two acquisitions last spring—Signify Health in March and Oak Street Health in May—as part of its mission to advance its "value-based care strategy," the company previously said.

DeAngelis said in a statement last year that the company remains "focused on our mission – continuing to provide the exceptional care and support our customers, patients and communities deserve and depend on."

"Throughout our company’s history, we’ve continuously adapted to market dynamics to lead the industry," DeAngelis added. "The difficult decision we are making will set the company up for long-term success."