Customer Service

CVS reducing workforce in restructuring strategy

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August 8, 2023

CVS Health will cut 5,000 jobs as part of a restructuring strategy for the drugstore chain.

The news comes at a time when the company is pumping up its healthcare services and expanding its medical care provider networks, according to a Forbes report.

The layoffs, originally reported by The Wall Street Journal, were announced in a memo to workers and stated the company was "evolving to adapt" to consumer needs and expectations.

Back in the fall of 2021 CVS announced it was shuttering 900 drugstores in the next three years as a first step to revamping its store format to become much more a health services location.