Key Points
- CVS Health is laying off around 2,900 employees.
- This is part of their cost-cutting plan.
- Job cuts will hit various departments, including Aetna.
- They aim to save $2 billion over the next few years.
- Revenue went up by 2.6% last month, with healthcare benefits jumping 21.4%.
Looma News
Hey! Big news from CVS Health: they’re getting ready to lay off about 2,900 employees to cut costs. They’re trying to streamline things and save some serious bucks for the long haul.
While we don’t know exactly which departments will be hit, it sounds like Aetna, their health insurance branch, could be involved. This is all part of CVS’s goal to save around $2 billion over the next few years.
Interestingly, CVS just had a revenue increase of 2.6% last month, with a big 21.4% jump in their Health Care Benefits section. They’re trying to balance the books while also investing in tech to get more efficient. Most of the job cuts will probably affect corporate roles and some positions in stores and pharmacies.
Keep an eye out for more updates as CVS plans to fill us in on how these layoffs will impact workers, especially in Connecticut, after they talk to the Department of Labour next week. It’s a tough time for many, but CVS is hoping these moves will set them up for future success.
