06:34 AM EDT, 10/02/2024 (MT Newswires) -- (Updates with CVS Health ( CVS ) confirmation.)

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, a company spokesperson confirmed to MT Newswires in an email late Tuesday.

The affected positions are mostly corporate roles, while front-line jobs in stores, pharmacies, and distribution centers would not be impacted, the spokesperson said.

"As we previously disclosed, we've embarked on a multi-year initiative to deliver $2 billion in cost savings by reducing expenses and investing in technologies to enhance how we work," the spokesperson said.

The vast majority of the impacted staff will be notified this week, the spokesperson added.

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