CVS Health to Cut 600 Jobs Over 2 Months
CVS is making some changes. Earlier this week, the retailer announced it's eliminating 600 corporate jobs as it battles competition in the healthcare market. The changes will happen over the next two months, and employees affected by the changes will be allowed to apply for other positions within the company. Unfortunately, 2016 hasn't been a banner year for CVS. Since July, it has struggled to see an upswing in sales and growth in revenue.
Total Retail's Take: With the ever-changing climate of "on-demand commerce," Amazon and stiff competition from competitors such as Walgreens, CVS has taken a hit. It's not surprising the company is making some layoffs to become a bit leaner. However, it's not news that someone ever wants to hear. Hopefully the changes will help CVS bounce back in 2017.