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CVS to lay off 5,000 employees as it slashes costs

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CVS is laying off about 5,000 workers in a move to cut costs.

, which first reported the news, said the changes are part of CVS' effort to focus on health services and include a reduction in travel costs and less reliance on pricey consultants. In recent years, the chain has added more primary care offerings and expanded its"HealthHub" store layout.

In 2021, CVS announced it was closing 900 stores, amounting to nearly 10% of its footprint, in response to the changing of"consumer buying patterns."

 

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