Over 100 Massachusetts Employees Will be Losing Their Jobs Soon
It seems like every day we hear about another business either closing, cutting jobs, or restructuring and Massachusetts is not immune to these changes. Retail businesses like Christmas Tree Shops and Bed, Bath and Beyond have shut down completely and are now just a thing of the past. Even banks are shutting down across Massachusetts including Bank of America and Citizens Bank. Several locations of both of those banks are closing up shop across Massachusetts.
Over 100 Employees in Massachusetts Will Soon Be Let Go By a Well Known Healthcare Company
Another business that isn't closing its doors completely but is restructuring, cutting expenses, and reprioritizing its investments is CVS Health. As a result of the company's restructuring process 140 of its Massachusetts employees will be eliminated come October 21, 2023, which is part of the company's plan to eliminate 5,000 positions across the entire company according to the Boston Business Journal. Of the 140 employees who will be losing their jobs in the company, 76 of those employees are located in Boston and the remaining 64 are located in Wellesley.
CVS Health released the following statement regarding the upcoming job cuts.
Our industry is evolving to adapt to new consumer health needs and expectations. As part of an enterprise initiative to reprioritize our investments around care delivery and technology, we must take difficult steps to reduce expenses.
CVS Health Will Be Making Cuts in Other New England States as Well
In addition, 198 CVS Health employees located in Cumberland and Woonsockett, Rhode Island along with 521 employees located in Hartford, Connecticut will be losing their jobs this October and December respectively. You can get more details on the CVS Health job cuts by going here.