Woonsocket, Rhode Island-based CVS Health, the company that owns CVS Pharmacy, Caremark, the pharmacy benefits manager, and Aetna Insurance, has announced that it is continuing with the restructuring to eliminate duplicate functions and redundant personnel at its Aetna Insurance subsidiary located in Hartford, Connecticut.
According to a company spokesperson, “Within the Aetna business, we are in the process of reorganizing and consolidating certain business segments to take advantage of CVS Health’s enterprise capabilities, while continuing to grow our core businesses and create added value for our members, customers, and provider partners. As part of this work, we’ve made the difficult decision to eliminate a very small percentage of positions in Hartford.”
The company will not disclose the number of targeted individuals but claims that the restructuring effort will “impact all parts of the Aetna business.”
Such reductions in force are almost routine in the process of integrating subsidiary operations into a parent company to consolidate and streamline operations.
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