CVS Health announced that it will cut 2,900 jobs as part of a cost-cutting plan.
The layoffs will mostly affect corporate positions, a CVS spokesperson told FOX Business .More than 300,000 people work for CVS across its segments, according to its website. The cuts represent 1% of the company's workforce.The job cuts will not affect front-line jobs in CVS stores, pharmacies or distribution centers, the spokesperson said.
CVS Health CEO Karen Lynch said in August as she announced the initiative that the savings would be "driven by further streamlining and optimizing our operations and processes, continuing to rationalize our business portfolio, and accelerating the use of artificial intelligence and automation across the enterprise as we consolidate and integrate platforms.
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