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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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