CVS Health considers splitting retail and insurance ops, lays off 2,900 amid financial pressures and competition.
CVS Health is exploring a potential breakup of its retail and insurance operations, which could reshape the healthcare landscape. The company is under pressure to improve profitability amidst declining performance and increased scrutiny. Additionally, CVS announced plans to lay off about 2,900 employees, primarily from corporate roles, as part of a $2 billion cost-cutting strategy. This follows previous layoffs and store closures amid rising competition and reimbursement challenges.
September 30, 2024
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