Home Industries Health Services CVS to cut 38 more workers tied to R.I. headquarters

CVS to cut 38 more workers tied to R.I. headquarters

Updated at 2:29 p.m.

By

Katie Castellani

-

02/07/2025

CVS Pharmacy — CVS HEALTH Corp. is laying off another 38 employees based at its Rhode Island headquarters./AP Photo/Gene J. Puskar, File.

WOONSOCKET – CVS Health Corp. is laying off another 38 employees based at its Rhode Island headquarters. Of the 38 employees, 23 work at CVS corporate headquarters in Woonsocket and the remaining 15 work remotely but report to someone who is based in Rhode Island, according to Worker Adjustment and Retraining Notification notice sent to

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WOONSOCKET – CVS Health Corp. is laying off another 38 employees based at its Rhode Island headquarters. Of the 38 employees, 23 work at CVS corporate headquarters in Woonsocket and the remaining 15 work remotely but report to someone who is based in Rhode Island, according to Worker Adjustment and Retraining Notification notice sent to the R.I. Department of Labor and Training on Feb. 4. The layoffs will take place June 7, with one remote employee set to be terminated March 29. This brings the number of workers with Rhode Island ties affected by CVS’ layoff plans to 1,466, including 188 Rhode Island residents. CVS also notified Connecticut’s Department of Labor and Training Feb. 4 that another 22 employees at its Hartford-based Aetna division are set to be laid off June 7. This latest round of layoffs in Rhode Island comes after CVS announced it was eliminating 796 positions in November 2024 – and another 632 workers laid off in October 2024 – who report to company headquarters. The layoffs are part of a plan to cut 2,900 positions company wide – or less than 1% of CVS’ workforce – as part of a goal to cut expenses by $2 billion. Shelley Bendit, spokesperson for CVS, said the newest layoffs mainly affect internal financial roles while the company is switching to an “external partner.” Bendit did not provide details on who the external partner is when asked by PBN. “...we are modernizing our finance organization to provide the innovation, speed and scale needed to meet evolving industry demands,” Bendit said in a statement. “We value the contributions of all our colleagues and remain committed to supporting those impacted during this transition.” Workers affected by the layoffs will receive severance pay and benefits, including access to outplacement services, Bendit said. (UPDATE: Headline clarified to state 38 workers tied to Rhode Island headquarters in Woonsocket.) Katie Castellani is a PBN staff writer. You can reach her at Castellani@pbn.com.