CVS Health laying off more than 400 Aetna employees
Following on the heels of last week's news that CVS Health is eliminating 2,900 positions, the retailer confirmed that it is laying off 416 employees tied to Aetna.
A CVS spokesperson told Drug Store News that of the total of 416 impacted positions, only 93 of those positions are held by Connecticut residents. The other 323 workers are not located in Connecticut; they either live in other states or work remotely but report to someone who is located in Connecticut, the spokesperson said.
[Read more: CVS’ reported strategic review includes potential break-up, cutting workforce]
The spokesperson also referenced the statement on the reduction in workforce, which was announced last week:
"Our industry faces continued disruption, regulatory pressures, and evolving consumer needs and expectations, so it is critical that we remain competitive and operate at peak performance. As we previously disclosed, we’ve embarked on a multi-year initiative to deliver $2 billion in cost savings by reducing expenses and investing in technologies to enhance how we work.
To achieve this goal and position ourselves for sustainable growth, we will reduce our workforce by less than 1%—approximately 2,900 colleagues across CVS Health. Impacted positions are primarily corporate roles. The reductions will not impact front-line jobs in our stores, pharmacies and distribution centers.
Before taking this step, we prioritized finding cost savings everywhere we could, including closing open job postings. Decisions on which positions to eliminate were extremely difficult and do not diminish the value that impacted colleagues have brought to the company.
[Read more: Glenview reportedly to meet top CVS brass, propose operational improvements]
We are committed to supporting these colleagues, who will receive severance pay and benefits, including access to outplacement services. The vast majority of impacted colleagues were notified last week. We remain focused on our mission—continuing to provide the exceptional care and support our patients, members, clients and customers deserve and depend on."