CVS Health has initiated layoffs at Hartford-based Aetna, as part of a nationwide effort to cut 5,000 jobs and reduce costs. Primarily affecting corporate roles, the move aims to ensure long-term success without impacting customer-facing positions in stores, clinics, and customer service centers. The merger between CVS and Aetna in 2018, valued at $70 billion, solidified their position as a major insurance employer in the state.
In a recent announcement on Tuesday, CVS Health has commenced the process of notifying employees at Aetna, headquartered in Hartford, about impending layoffs.
This strategic move is part of a broader nationwide effort to streamline operations. The healthcare giant has unveiled plans to eliminate 5,000 jobs as a measure to curtail expenses.
Mike DeAngelis, the spokesperson for CVS, shared in an email on Tuesday, “We have commenced the procedure of communicating with the affected colleagues within CVS Health.”
Details about the scale of the workforce reduction and the precise impact on Aetna’s workforce remain unclear at present.
DeAngelis referred back to an earlier statement from the company, saying, “At this juncture, we are unable to furnish further particulars.”
According to the previous statement, the layoffs are predominantly targeted at corporate positions.
The statement further reads, “Our colleagues who interact with customers in our stores, pharmacies, clinics, and customer service centers are not anticipated to be affected. This challenging decision is geared towards positioning the company for sustained success.”
In 2018, CVS and Aetna merged in a transaction valued at approximately $70 billion, effectively establishing the combined entity as one of the primary employers in the insurance sector within the state.
