CVS Health Announces 5,000 Job Cuts Amid Restructuring

CVS Health is laying off around 5,000 employees as part of a cost-cutting and restructuring plan.
The job cuts will affect corporate and back-office roles and will not impact customer-facing employees.
The restructuring aims to reduce expenses and allow CVS Health to prioritize investments in healthcare delivery and technology.
CVS Health beat earnings expectations in Q2 2023 but saw a decline in net income due to restructuring charges.
The job cuts come after CVS Health expanded into primary care services through acquisitions of companies like Oak Street Health.