Layoffs announced at CVS, over 600 RI-based jobs impacted.
CVS is changing the way it determines prescription drug prices
CVS has announced it will revamp the way it makes reimbursement payments to pharmacies for prescription medications.
Wibbitz – Business
CVS has filed notice with the state that it intends to lay off 632 Rhode Island-based workers following last week’s announcement that it will be cutting thousands of corporate jobs.
The Woonsocket-based company filed a WARN notice with the Rhode Island Department of Labor and Training on Monday about the impending job cuts. According to the notice, the layoffs will be effective between Dec. 8 through Dec. 21, 2024.
Last week, CVS Health confirmed it planned to cut 2,900 jobs, mostly in corporate roles.
The cuts represent less than 1% of the Woonsocket-based company’s workforce and will not affect “front-line jobs in our stores, pharmacies, and distribution centers,” CVS spokesman Mike DeAngelis confirmed to The Journal at the time of the announcement.
The announcement comes at a time when CVS Health is exploring separating the insurance and retail portions of its business.
This is a developing story and will be updated.
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