CVS to Cut 5,000 Jobs Amid Shift Away From Retail Focus (3)

CVS Health Corp. will cut 5,000 positions from its workforce to help cut costs as the drugstore chain focuses on broadening from its retail roots into more health-care offerings.

WATCH: CVS is cutting 5,000 jobs.

Source: Bloomberg

None of the job losses will impact customer-facing positions in stores, pharmacies, clinics or customer services centers, a spokesman for the Woonsocket, Rhode Island-based company said Tuesday. It had more than 300,000 employees as of the end of the year. The decision is part of an initiative to reprioritize investments around care delivery and technology and reduce expenses, the spokesperson said.

CVS’s move deeper into patient care includes the recent ...