WOONSOCKET, R.I. (WPRI) — CVS Health is laying off nearly 3,000 employees nationwide, a company spokesperson confirmed Monday.
The disclosure about job cuts came shortly before national news outlets reported that CVS’s board is considering whether to break up the company, which owns insurer Aetna and pharmacy-benefit manager Caremark in addition to its well-known retail stores.
CVS spokesperson Mike DeAngelis said the Woonsocket-based pharmacy giant will be eliminating 2,900 jobs, citing “continued disruption, regulatory pressures and evolving consumer needs and expectations.”
He didn’t immediately disclose how many of the job cuts will happen in Rhode Island. But company officials said they plan to file a layoff notice with the state next week — a step which is only required when an employer is firing 50 or more employees.
“It is critical that we remain competitive and operate at peak performance,” DeAngelis explained.
DeAngelis said the layoffs make up 1% of the company’s overall workforce, and it will be primarily corporate roles that are cut.