Woonsocket-based CVS Health will lay off 150 workers, including 70 in Rhode Island. The pharmacy chain described the layoffs as part of an operational review aimed at boosting efficiency.
"CVS Health continually reviews its operations in all of its markets and facilities across the U.S. to enhance efficiencies and ensure the Company remains in the best competitive position to improve the health outcomes of its patients and clients while lowering their overall health costs," CVS Health spokesman Mike DiAngelis wrote in an email to Rhode Island Public Radio.
DiAngelis said workers affected by the layoffs have been notified, including 70 people who will lose their jobs at the company's headquarters in Woonsocket.
"Colleagues will have the opportunity to apply for other positions within CVS Health for which they may be qualified," said DiAngelis. "Those who are not placed in other positions within the company will be eligible to receive a transition package to cover financial and health benefits, outplacement support and counseling."
CVS employs more than 200,000 people across the country, and more than 7,000 people in Rhode Island, at its chain of retail pharmacies, minute clinics and drug benefit programs. In late October, the company lowered the forecast for profits in 2016.