CVS Health cuts 5,000 jobs as part of restructuring plan

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CVS Health said on Wednesday it has eliminated about 5,000 non customer-facing roles as it seeks to rein in costs after a recent spree of acquisitions.

People walk by a CVS pharmacy store in Manhattan, New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photosaid on Wednesday it has eliminated about 5,000 non customer-facing roles as it seeks to rein in costs after a recent spree of acquisitions.

CEO Karen Lynch said on an earnings conference call that the $496 million restructuring charge recorded during the second quarter was related to the job cuts and certain impairment charges.

 

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