Headwinds lead CVS Health to seek $800M restructuring

CVS Health seeks to reduce expenses by $800 million through restructuring and layoffs to compensate for rising expenses, soft retail performance and Oak Street Health expansion costs, executives told investors Wednesday.

The healthcare conglomerate reported a 37% decline in net income to $1.9 billion, or $1.48 per share, on Wednesday. Revenue increased 10.3% to $88.9 billion. CVS shares opened on the New York Stock Exchange at $72.49…