🧵 1. CVS Health to cut 5,000 jobs as it expands its health care services, aiming to reduce costs. No impact on customer-facing employees. #business
🧵 1. CVS Health to cut 5,000 jobs as it expands its health care services, aiming to reduce costs. No impact on customer-facing employees. #business
🧵 2. Layoffs at CVS will include severance pay and benefits for affected employees. Focus on care delivery & technology drives expense reduction.
🧵 3. CVS's move to eliminate non-customer facing positions comes ahead of second-quarter earnings report. The company operates 9,000+ retail locations nationwide.
🧵 4. CVS's push into health care includes acquisitions of Signify Health and Oak Street Health, tightening competition with Walgreens and Amazon.
🧵 5. Last quarter, CVS lowered earnings forecast due to costs associated with its health care expansion. Focus on improving patient care remains a priority.
🧵 Read more at: https://www.cnbc.com/2023/08/01/cvs-health-to-slash-5000-jobs-to-save-costs.html