CVS has announced that it will be laying off about 5,000 employees.
The company told CNN that the positions affected will be “non-customer facing” and consist mostly of corporate staff.
CVS said that it is “evolving to adapt to new consumer health needs and expectations” and that it “must take difficult steps to reduce expenses.”
Laid-off employees will get severance pay, benefits and job placement services, The Wall Street Journal reported.
The layoffs aren’t the only changes CVS is making. It will also cut travel expenses and the use of consultants and vendors, according to the newspaper.