The first month of the year ended only a week ago, but job losses have already pushed everyone into the trenches. LinkedIn, Reddit, Blind: These social media forums are a flurry of “I was laid off,” “I was impacted,” and “open to work” posts, creating a sense of panic.
From questions of what comes next to a community coming together with support and an increase in paid Substack and freelance work, this is the aftermath of earnings season.
A more recent addition is AetnaCVS Health, part of the CVS Health family of companies, which battled downsizing in 2024-2025.
The health care company posted a WARN (Worker Adjustment and Retraining Notification) notice informing of its decision to lay off 313 employees at its Hartford, Conn., office.
Of these, only 17 are Hartford residents, while others work remotely. CVS Health cited “operational changes in CVS Health Aetna’s Small Group business segment” as the driver of the layoff. The employee separations will take effect between April 3, 2026, and July 31, 2026.
While this gives laid-off workers 60 days, it does not make the job hunt any easier. The number of people out of a job during the April to June period has increased considerably this past month.
More Layoffs:
- Goldman Sachs makes unemployment prediction
- 179-year-old tobacco giant sends blunt message to workers
- 118-year-old shipping giant just delivered workers a harsh message
- Amazon delivers more bad news for workers before earnings
Most roles impacted are in Small Group sales/account management analysts, underwriting, and plan sponsor services.
These layoffs are not the first for the health insurance provider; rather, they are part of a routine restructuring to trim costs and steer investments.
Hartford has been on the receiving end of job cuts more than other cities. Between 2024 and 2025, it has seen more than 1,000 layoffs.
- Oct. 2024: 416 job cuts
- Nov. 2024: 42 job cuts
- Dec. 2024: 164 job cuts
- Jan. 2025: 13 job cuts
- Feb. 2025: 22 job cuts
- Oct. 2025: 72 job cuts
- Feb. 2026: 313 job cuts
Employees who work primarily remotely are treated as assigned to the Connecticut location.
CVS Health and its restructuring plan
Parent Company CVS Health has also been consistently shrinking its retail physical footprint as consumers shift to digital purchases.
In a strategic review in 2021, the company decided to reorganize its businesses by assessing its CVS Pharmacy retail operations and, consequently, “reduc[ing] store density in certain locations.”
In 2024, the company opened 39 new stores, relocated three stores, and closed 299 stores.
In a previous SEC filing, CVS Health also indicated plans to close an additional 271 retail stores in 2025. More information on this will be available at its Q4 earnings report due on February 10, 2026.
These restructuring costs are being optimized through its major charges, which come from:
- Store impairment charge
- Corporate workforce optimization costs
- Severance and employee-related costs
These layoffs are part of the broader $2 billion cost-cutting initiative the company announced in 2024, in which it stated it would reduce 2,900 roles over the next few years.
In addition, CVS Health has also been working on its health care delivery ambitions. In its Q3 2025 earnings call, President J. David Joyner deliberated on its $5.7 billion goodwill impairment in Health Care Delivery.
The write-down of this charge is directly related to their acquisition of Oak Street Health clinic and the company’s decision to slow its growth, as the company reportedly paid more than it expected and realized it couldn’t expand as quickly as it originally planned while remaining profitable.
Previously struggling Aetna CVS Health, now back on track, continues to drive “impactful and exceptional results,” as it once again became the industry leader among national players in the 2026 Medicare Advantage Stars Ratings. However, this year it will exit its Individual Exchange business, which provides Affordable Care Act (ACA) health options in some places.
Meanwhile, CVS Pharmacy is investing in acquiring Rite Aid assets to leverage a market opportunity.
CVS Health Corporation stock was up 2.8% midday on Friday, Feb. 6, marking a 5% gain this past week.
Related: Layoffs in January reach recession-era levels
