J&J to invest over $2 billion for new manufacturing facility in North Carolina
Ex-Jaguars worker who stole $22M from team sues FanDuel, saying it preyed on his gambling addiction
October’s annular solar eclipse will create a ‘ring of fire’ over parts of South America
Christmas starts in Venezuela, but the festive mood is nowhere to be found
Cambodia says it would welcome US Navy at port expanded with China's help
Pope Francis, ahead of Vatican summit, asks pardon for abuse, treatment of women
Webb telescope reveals surprising details of Pluto's moon Charon
OpenAI introduces new tools for developers to fast-track building of AI models
Frank Fritz of the reality TV Show 'American Pickers' dies at 60
John Amos, star of ‘Good Times’ and ‘Roots,’ dead at 84
‘American Pickers’ star Frank Fritz dead at 60
(Reuters) -CVS Health said on Tuesday it would lay off about 2,900 employees, representing less than 1% of its workforce, as the healthcare conglomerate aims to cut costs.
The reductions, part of the company's previously announced plan, would primarily impact corporate roles and not frontline jobs in stores, pharmacies and distribution centers, it said.
Reuters exclusively reported on Monday that CVS is exploring options that could include a break-up of the company to separate its retail and insurance units, as it looks to turn around its fortunes amid pressure from investors.
CVS had disclosed a multi-year plan in August to save $2 billion in costs through measures such as streamlining operations and using artificial intelligence and automation across its business.
Last year, the company said it had eliminated about 5,000 non customer-facing roles as a part of its restructuring plan.
CNN, STAT News and other media outlets had reported about the job cuts.
(Reporting by Sriparna Roy in Bengaluru; Editing by Shailesh Kuber and Shilpi Majumdar)
