11:08 AM EDT, 10/01/2024 (MT Newswires) -- CVS Health ( CVS ) is planning to eliminate roughly 2,900 jobs, representing less than 1% of its total workforce, as part of cost-cutting measures, multiple media outlets reported Tuesday, citing the company.

The affected positions are mostly corporate roles, while front-line jobs in stores, pharmacies and distribution centers would not be impacted, Forbes reported, citing a CVS memo sent to employees Monday.

The company targets to deliver cost savings of $2 billion by cutting expenses and investing in technologies to improve its operation, CNN reported, citing a CVS spokesperson.

CVS did not immediately respond to MT Newswires' request for comment.

Shares of the company were down 2.5% in recent Tuesday trading.

Price: 61.30, Change: -1.58, Percent Change: -2.51