CVS Health Corp. said it would cut about 5,000 jobs to help reduce costs, with most of the roles corporate positions, the Wall Street Journal reported.
The Rhode Island-based pharmacy chain doesn’t expect customer-oriented roles in its stores, pharmacies and clinics to be affected, the newspaper reported, citing a company statement.
The cuts will let CVS “be at the forefront of a once-in-a-generation transformation in health care,” Chief Executive Officer Karen Lynch said, according to a staff memo the newspaper said it had reviewed. Employees impacted are to receive severance pay, benefits and help with getting a new job elsewhere, it said.
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