The layoffs represent less than 1% of CVS Health's overall workforce.
WOONSOCKET, Rhode Island — CVS Health announced Tuesday it plans to lay off 2,900 employees, a move that comes about a year after the pharmacy chainDeAngelis tells USA Today that laid-off employees will receive severance pay and benefits. “Decisions on which positions to eliminate were extremely difficult,” DeAngelis said.
An analyst tells CNN that drug store chains in the U.S. are struggling “because of falling reimbursement rates for prescription drugs.” Competition from Amazon and chains such as Target, Walmart, Costco and dollar stores has cut into drug stores’ non-pharmaceutical sales, CNN reports. CVS reportedly has nearly 350 locations in Ohio, including dozens in Northeast Ohio. It has nearly 9,200 locations in the U.S. CVS has closed about 900 stores since 2022, CNN reports.
If you purchase a product or register for an account through a link on our site, we may receive compensation.and agree that your clicks, interactions, and personal information may be collected, recorded, and/or stored by us and social media and other third-party partners in accordance with our
Layoffs Pharmacies Business National-News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Free day at the national parks: Pitch in on National Public Lands DayVolunteers will help out at parks, monuments, and historical sites across the nation.
Read more »
Free day at the national parks: Pitch in on National Public Lands DayVolunteers will help out at parks, monuments, and historical sites across the nation.
Read more »
Free day at the national parks: Pitch in on National Public Lands DayVolunteers will help out at parks, monuments, and historical sites across the nation.
Read more »
Free day at the national parks: Pitch in on National Public Lands DayVolunteers will help out at parks, monuments, and historical sites across the nation.
Read more »
Free day at the national parks: Pitch in on National Public Lands DayVolunteers will help out at parks, monuments, and historical sites across the nation.
Read more »
Free day at the national parks: Pitch in on National Public Lands DayVolunteers will help out at parks, monuments, and historical sites across the nation.
Read more »