Home Industries Health Services CVS to lay off 632 workers tied to R.I. headquarters

CVS to lay off 632 workers tied to R.I. headquarters

Updated at 10:05 a.m. on Oct . 8

By

Katie Castellani

-

10/07/2024

CVS Pharmacy — CVS HEALTH Corp. is laying off 632 remote and in-person employees at its company's headquarters in Woonsocket. /ASSOCIATED PRESS FILE PHOTO / GENE J. PUSKAR

WOONSOCKET – CVS Health Corp. is laying off 632 remote and in-person employees at its company headquarters. Of the employees affected, just 153 work inside the CVS headquarters and surrounding facilities and the remaining 479 are “outstanding/remote employees reporting into the facility,” according to a Worker Adjustment and Retraining Notification, or WARN notice, sent to the R.I. Department of

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WOONSOCKET – CVS Health Corp. is laying off 632 remote and in-person employees at its company headquarters.

Of the employees affected, just 153 work inside the CVS headquarters and surrounding facilities and the remaining 479 are “outstanding/remote employees reporting into the facility,” according to a Worker Adjustment and Retraining Notification, or WARN notice, sent to the R.I. Department of Labor and Training Monday.

The notice included the position, title and state of residence for each affected employee. Based on Providence Business News’ assessment of the WARN notice, 177 Rhode Island residents, including in-person and remote workers, will be laid off.

The layoffs are scheduled to go into effect from Dec. 8 to Dec. 21 and all the employees who are affected have been notified of the specific dates they will be laid off.

The WARN notification comes a week after CVS told employees it was laying off 2,900 positions companywide – or around 1% of its global workforce. The company is also reportedly exploring a breakup, according to several news reports. CVS spokesperson Michael DeAngelis previously told PBN the layoffs are part of CVS’ goal to cut costs by $2 billion through reducing expenses and investing in technologies used in the workplace. “Our industry faces continued disruption, regulatory pressures and evolving consumer needs and expectations, so it is critical that we remain competitive and operate at peak performance,” DeAngelis said in an email. Employees who are laid off will receive severance pay and benefits, including access to out-placement services. This also marks a second round of layoffs at the pharmacy retailer. In August 2023, CVS cut 5,000 jobs companywide, including 198 Rhode Islanders. (UPDATE: Clarifies 632 jobs being cut tied to CVS headquarters in Woonsocket in headline) Katie Castellani is a PBN staff writer. You can reach her at Castellani@pbn.com.