CVS Health Corp. has announced the shutdown of its Wellesley, Massachusetts-based accountable care business, resulting in 183 employee layoffs. The majority of those affected are remote workers, with only three residing in Massachusetts.
The layoffs are scheduled to take effect on May 3, following a Workers Adjustment and Retraining Notification (WARN) filed by the company on Friday. This business line was part of the ACO REACH program, which aims to improve care coordination for Medicare beneficiaries.
CVS Health’s decision to discontinue this segment reflects a strategic shift in its operations. The company has been reassessing various business lines to align with its long-term objectives and market dynamics.
The impacted employees have been notified and will receive support during the transition. CVS Health is committed to providing resources to assist them in pursuing new opportunities within or outside the organization.
This development underscores the evolving landscape of healthcare services and the company’s efforts to adapt to changing industry demands. CVS Health continues to evaluate its business units to ensure alignment with its strategic goals.