Business & Tech
Mass Layoffs Hit CVS Health In Boston, Wellesley
The health care giant is eliminating 5,000 positions across the country, including at two of its Massachusetts offices.
BOSTON, MA — CVS Health will cut 140 employees from its Boston and Wellesley offices. The layoffs will begin Oct. 21, according to documents filed with the state.
Seventy-six positions will be eliminated at the Boston office, and another 64 will be cut in Wellesley.
The workforce reductions will affect "non-customer facing" positions and not those in CVS retail locations.
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CVS Health is laying off 5,000 workers from around the country. The move is to cut costs as the company moves its focus to health care services, USA Today reported.
CVS operates more than 9,000 retail locations and 1,100 walk-in clinics nationwide.
Find out what's happening in Bostonwith free, real-time updates from Patch.
The layoffs will reportedly affect Rhode and Connecticut as well, where more than 1,200 employees will be let go, according to Healthcare Dive.
The move comes after CVS purchased Oak Street Health for $10.6 billion earlier this summer. The company also completed an $8 billion acquisition of home health provider Signify in the spring.
CVS expects to save more than $600 million beginning next year via the restructuring, Healthcare Dive reported.
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