NATIONAL NEWS— CVS Pharmacy is laying off thousands in efforts to cut costs

By Nikita Bondale, Staff Writer

CVS pharmacy is planning to lay off approximately 5,000 employees in efforts to reduce company costs. CVS is a nationwide pharmacy chain based in Rhode Island. A CVS representative has said that, “Throughout our company’s history, we’ve continuously adapted to market dynamics to lead the industry. The difficult decision we are making will set the company up for long-term success.” Additionally, with the closing of 900 stores in 2021, CVS is making many substantial changes in the hopes of cutting costs.