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billions of dollars adding healthcare services. In this photo, the CVS Pharmacy logo seen at one of their stores in San Francisco. News CVS Health plans to shed 5,000 jobs across the country comes in the wake of the retail drugstore giant’s billions of dollars in spending to add healthcare services to its stores and medical care provider networks.
“As part of an enterprise initiative to reprioritize our investments around care delivery and technology, we must take difficult steps to reduce expenses,” the company said. “This unfortunately includes the need to eliminate a number of non-customer facing positions across the company. We do not expect there to be any impact to our customer-facing colleagues in our stores, pharmacies, clinics, or customer services centers.
CVS, which is based in Woonsocket, Rhode Island and is that state’s biggest company, reports second quarter earnings on Wednesday. The company is expected to disclose more details about the cost-cutting plan in its earnings report. CVS, which owns the nation’s third-largest health insurer in Aetna, has in the last year taken even more steps to transform into a major provider of healthcare services in markets it already serves as a retail drugstore and community pharmacy.
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