Three things to know:
1. The job cuts are part of Aetna’s integration into CVS and aim to improve efficiencies, according to an Oct. 7 company statement cited by the Journal Inquirer. The integration includes restructuring across all lines of business, and reorganizing and consolidating certain segments.
2. The exact number of job cuts wasn’t released. However, CVS said the reductions didn’t meet state regulations that require companies to provide advanced notice of layoffs. Typically, that threshold is 100 or more employees.
3. Employees affected by the layoffs may apply for other positions within Aetna. Those who don’t get a new role will receive a “transition package” with health benefits and outplacement support, according to the report.
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