CVS Health has informed state officials of an upcoming reduction of 42 positions, with 12 based in Hartford, Connecticut. This announcement follows a previous notification in October, where the company detailed plans to terminate 416 employees, 93 of whom were located at 151 Farmington Ave. in Hartford. The initial layoffs are scheduled to commence on December 8 and continue through December 21.
In a letter sent to the Connecticut Department of Labor on November 25, 2024, CVS Health outlined a second phase of layoffs slated for January 2025. This phase will impact 42 employees, including 12 who work at the Hartford facility; the remaining 30 are remote workers reporting to the Hartford location.
Rhode Island-based CVS Health acquired Hartford-based Aetna in 2018, forming one of the largest healthcare conglomerates globally. At the time of the merger, CVS committed to maintaining Aetna’s headquarters in Connecticut for at least 10 years, as stated in a letter to the Connecticut Insurance Department.
Connecticut Department of Labor Commissioner Danté Bartolomeo noted that 107 Connecticut residents would be affected by the initial round of layoffs. The state has proactively reached out to CVS to offer assistance and services to the impacted workers as promptly as possible.
These workforce reductions are part of CVS Health’s broader strategy to streamline operations and reduce costs following its merger with Aetna. The company has emphasized its commitment to supporting affected employees through severance packages and outplacement services.
As the healthcare industry continues to evolve, CVS Health’s restructuring efforts reflect the company’s adaptation to changing market dynamics and its focus on integrating services to enhance efficiency and patient care. The company has not disclosed specific details about the roles affected in this latest round of layoffs.
CVS Health’s decision to maintain Aetna’s headquarters in Hartford aligns with its initial merger commitments, despite the ongoing adjustments to its workforce. The company continues to evaluate its operational needs to remain competitive in the healthcare sector.
The Connecticut Department of Labor remains engaged with CVS Health to ensure that displaced workers receive the necessary support and resources during this transition period. Further updates regarding the layoffs and available assistance programs are anticipated as the situation develops.