As the United States-based pharmacy chain continues to shift its focus more onto healthcare services, CVS Health has announced that it is cutting about 5,000 jobs and closing 900 stores over the next three years.
To save the company money so it has a better chance of surviving, CVS Health is slashing mostly corporate jobs, The Wall Street Journal reported.
Workers at CVS stores, pharmacies, and clinics are not expected to be negatively impacted by the layoffs and store closures - except, of course, for the employees at stores that are closing.
Back in November 2021, CVS Health announced plans to close 900 stores over three years, with about 300 stores per year slated to be shuttered.
"Due to the findings, the company planned to cut back on store density in certain locations and close approximately 300 stores each year over the coming three years, beginning in spring 2022," reported one media outlet about the news.
According to CEO Karen Lynch, the changes will allow CVS Health to "Be at the forefront of a once-in-a-generation transformation in health care."
In the comments, someone who works at a Walgreens store in "Fairly conservative Kansas" says shoplifting is off the charts and that perhaps this is the real reason why CVS is closing hundreds of its stores over the next few years.
https://www.naturalnews.com/2023-08-03-cvs-slash-5000-jobs-close-900-stores.html
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