CVS announces 40 more Aetna-related layoffs

COSTAR Aetna's Farmington Avenue headquarters in Hartford.

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CVS Health, the parent of Aetna Inc., informed the state and city of Hartford on Monday that it will lay off 42 more employees who work for the Hartford-based health insurer.

In a Worker Adjustment and Retraining Notification (WARN) filed with the state Department of Labor, CVS states that it plans to eliminate 40 positions from Aetna’s facility at 151 Farmington Ave., during a 14-day period between Jan. 25 and Feb. 7, 2025. Of the 40 employees affected, just 12 actually work on-site; the rest work remotely.

In addition, 22 of the 40 employees affected live in 14 other states, including three in Massachusetts and two in Pennsylvania.

The WARN Act notice states that all affected employees have been notified of their expected date of separation. It adds there are no bumping rights for the affected employees, none of whom are represented by a union.

A company spokesperson said Tuesday that all the affected employees will receive "severance pay and benefits, including access to employment services."

The latest round of layoffs follows CVS Health’s announcement in October that it would terminate 416 employees from its office at 151 Farmington Ave., most of whom also work remotely. The additional layoffs will bring the total number of jobs cut to 458.

CVS Health has struggled over the past year with various issues, including higher medical expenses from its Hartford-based insurance arm that have weighed down its earnings.

Earlier this month, it named former UnitedHealthcare CEO Steve Nelson as president of Aetna Inc. Nelson succeeded Brian Kane, who left Aetna in August after less than a year at the helm of the 170-year-old health insurer that is one of Hartford’s largest employers and taxpayers.