CVS Health to cut 2,900 jobs in cost-cutting effort, CNN reports

CVS Health plans to slash 2,900 jobs in a cost-cutting initiative, or under 1% of the company’s workforce, CNN’s Olesya Dmitracova reports. “We’ve embarked on a multi-year initiative to deliver $2B in cost savings by reducing expenses and investing in technologies to enhance how we work,” a spokesperson said in a statement, adding that “Impacted positions are primarily corporate roles. The reductions will not impact front-line jobs in our stores, pharmacies and distribution centers.” The job cuts are in addition to the 5,000 layoffs announced last year. “Our industry faces continued disruption, regulatory pressures and evolving consumer needs and expectations,” the spokesperson said.