CVS Health is preparing to lay off 521 Aetna employees, beginning October 21st, as confirmed by WARN Act documents. Most layoffs, including executive directors and analysts, will impact Aetna’s Hartford headquarters and remote workers under Connecticut supervisors. CVS Health’s move to eliminate “non-customer-facing positions” was explained in an August 1st statement. The layoffs also mark the conclusion of the agreement made during CVS Health’s acquisition of Aetna, where maintaining 5,300 employees at Aetna and its subsidiaries was pledged until 2022.
According to paperwork submitted on August 18 under the WARN Act, CVS Health is getting ready to lay off 521 workers from its Aetna division. According to the official notice, the implementation of these layoffs is planned to start on October 21. 306 employees of the affected staff are located at the insurer’s corporate office in Hartford, Connecticut. Even though the remaining staff members work from home, they nonetheless report to Connecticut-based managers.
The roles encompassed by this layoff encompass a range of positions, including executive directors, analysts, legal counsel, and managers.
CVS Health, the parent company of Aetna, conveyed in a statement shared with Becker’s on August 1st that it intends to eliminate roles classified as “non-customer-facing positions” across its entire corporate structure.
Following CVS Health’s acquisition of Aetna, its commitment to state insurance regulators included a stipulation to sustain employment levels at Aetna and its affiliated entities, at a minimum of 5,300 employees, for four years after the deal’s closure. These employment levels were based on staffing figures as of October 1st, 2018, with the agreement’s term concluding in 2022.
