CVS laying off 250 in R.I.

CVS HEALTH announced Thursday that it was eliminating about 600 jobs nationwide, include roughly 250 at its Woonsocket headquarters.
CVS HEALTH announced Thursday that it was eliminating about 600 jobs nationwide, include roughly 250 at its Woonsocket headquarters.

(Updated 3:14 p.m.)
WOONSOCKET – CVS Health Corp. is laying off approximately 600 people nationwide, with 250 positions slated to be eliminated primarily at its corporate offices here.

Mike DeAngelis, CVS spokesman, released a statement Thursday that said the company, following a “thorough evaluation process,” decided that it should operate as a “more lean and efficient organization” due to changing market dynamics and an increasingly competitive environment.

He said the positions will be eliminated this month and next. The workforce reduction will allow the company to focus “roles and resources on driving the greatest value for our business while maintaining customer satisfaction.”

The health care company employs more than 240,000 across the country, and approximately 600 positions, including the 250 in Rhode Island, will be eliminated, he said. The other positions are located in Illinois and Arizona.
DeAngelis said after the layoffs, the company will continue to employ more than 7,600 people throughout Rhode Island.

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“CVS Health is committed to Rhode Island and we are proud to be part of this community,” he wrote.

CVS received $21.2 million in state tax credits and incentives last fiscal year, according to the R.I. Division of Taxation, with $10.5 million from the Jobs Development Act, which grants incremental income tax rate reductions to companies that create new employment in the state.
DeAngelis said the company is hiring for 350 open positions in Rhode Island. He said employees affected by the announcement will have the opportunity to apply for positions for which they may be qualified.
He said the company will work closely with the affected employees through the transition. Those who are not placed in other positions within the company will be eligible to receive a transition package to cover financial and health benefits, outplacement support and career counseling.
“CVS Health continually reviews its operations in all of its markets and facilities across the U.S. to enhance efficiencies and ensure the company remains in the best competitive position to improve the health outcomes of its patients and clients while lowering their overall health costs,” the statement said.
R.I. Department of Labor and Training Director Scott Jensen issued a statement regarding layoffs at CVS:

“The Department of Labor and Training is here to help CVS workers affected by the layoffs however we can. At the company’s invitation, we will visit the workplace soon and offer Rapid Response services. We worked closely with CVS to help employees who were displaced by a similar layoff last November, and CVS is hopeful about working with many of the employees currently affected to place them in other open positions. Through Rapid Response, DLT can provide information about re-employment services and possible training opportunities, address workers’ individual needs and offer information about income support programs such as unemployment insurance,” Jensen said.

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