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CVS Health announced plans to lay off about 2,900 employees, constituting less than 1% of its workforce, in a cost-cutting move. The reductions will mainly affect corporate positions and not frontline roles in stores, pharmacies, and distribution centers. Reports suggest that CVS is considering options, including a potential break-up of the company to separate its retail and insurance units. Healthcare investment firm Glenview Capital Management is in talks with CVS to improve its performance. CVS aims to save $2 billion in costs through streamlining operations and utilizing AI and automation. Last year, the company eliminated around 5,000 non-customer-facing roles as part of its restructuring plan.
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Emma Collins, graduated in Financial Economics from the University of Chicago in the USA in 2016. She has since worked at an asset management firm in New York, where she specializes in investment strategies and portfolio management. Emma has a keen interest in financial analysis and has published several articles in renowned financial journals. Her work focuses on providing actionable insights to investors, and she is known for her forward-thinking approach to managing financial portfolios.
