CVS layoffs: Healthcare giant cutting about 5,000 'non-customer facing positions'

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• Earlier this year, the company completed a $10.6 billion deal to buy Oak Street Health, a company that runs primary care centers for lower-to-middle income people with Medicare Advantage plans, which are privately run versions of the federal government's program for people aged 65 and older. With the acquisition, CVS Health plans to capitalize on the federal government's interest in cutting costs and improving the health of people in its Medicare program.