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

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Jul 31, 2023

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

People walk by a CVS pharmacy store in Manhattan, New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo Aug 2 (Reuters) - CVS Health (CVS.N) said on Wednesday it has

People walk by a CVS pharmacy store in Manhattan, New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo

Aug 2 (Reuters) - CVS Health (CVS.N) 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.

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.

The Wall Street Journal had first reported the job cuts earlier this week.

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