CVS Lays Off 2,900 Workers In Cost-Cutting Move. Here's What To Know.

CBS Boston

October 2, 29024

CVS Health said it is cutting about 2,900 employees as part of a goal to reduce costs by $2 billion.

The job cuts represent about 1% of the healthcare company's workforce, a CVS spokesperson told CBS MoneyWatch via email.

Some pharmacy chains have struggled in recent years amid cutbacks from inflation-weary consumers, with shoppers paring their spending on non-prescription items. Walgreens is planning to close up to a quarter of its 8,600 retail locations as some customers have turned elsewhere to buy basics.

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