CVS Health to Lay Off 2,900 Employees Amid Strategic Review

The healthcare giant is also considering a potential breakup of its retail and insurance units as it faces financial and operational challenges.

CVS Health announced it will cut approximately 2,900 corporate jobs as part of a $2 billion cost-saving initiative.
The layoffs represent less than 1% of CVS's total workforce and will not affect frontline roles in stores, pharmacies, or distribution centers.
The company is exploring a potential breakup to separate its retail pharmacy chain from its Aetna insurance business, though no final decisions have been made.
Investor Glenview Capital Management, which holds a significant stake in CVS, is engaging with the company to discuss operational improvements.
CVS has been struggling with rising medical costs and declining share value, prompting a strategic review to enhance shareholder value.