CVS cuts 300 jobs to reduce costs

AP News
Posted: Oct 28, 2010 5:51 PM
CVS cuts 300 jobs to reduce costs

Pharmacy chain operator CVS Caremark said Thursday it will eliminate 300 employees who work in customer support and other operations to reduce corporate costs.

The job cuts affect staffers across the country, but more than half are at the company's customer support center at its headquarters in Woonsocket, R.I., according to an e-mailed statement from a company spokesman. The jobs eliminated do not include store staff.

"We have been looking for ways to improve productivity while reducing costs and maintaining customer satisfaction," CVS spokesman Mike DeAngelis says.

CVS operates 7,000 stores across the U.S. and is the country's third-largest pharmacy benefit manager, providing prescription services to 53 million people.