CVS to shed 5,000 jobs in a cost-cutting push

CVS to shed 5,000 jobs in a cost-cutting push

(Reuters) – The US pharmacy chain CVS Well being will minimize 5,000 jobs, the Wall Avenue Journal reported on Monday, citing a notice to staff.

In an e-mail response to Reuters, CVS confirmed that the corporate was shedding some non-customer-facing staff to chop prices, however didn’t touch upon the variety of staff affected.

An organization spokesperson stated CVS expects “no affect on our customer-facing colleagues in our shops, pharmacies, clinics, or customer support facilities.”

The pharmacy chain had about 300,000 staff within the US on the finish of final yr.

Rhode Island-based Woonsocket will minimize journey bills in addition to its use of consultants and suppliers, in response to a Wall Avenue Journal report.

The layoff information comes forward of CVS’s quarterly earnings report on Wednesday.

(Reporting by Rishab Jaiswal and Gursmran Kaur in Bengaluru; Enhancing by Rashmi Aish)

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