From layoffs to leadership appointments, here are nine updates from CVS Health in the last 60 days:
1. CVS Health is preparing to raise up to $2.5 billion through a bond sale.The company has engaged Barclays, Citigroup and Goldman Sachs to arrange investor calls, and the bonds will have hybrid characteristics, combining elements of debt and equity and are expected to be used to repurchase debt.
2. CVS Health named Len Shankman as president of Pharmacy and Consumer Wellness and Lucille Accetta as the chief pharmacy officer.
3. CVS Health also named Sreekanth Chaguturu, MD, president of healthcare delivery.
4. CVS Health added four members to its board of directors following "productive discussions" with hedge fund investor Glenview Capital Management.
5. Workers at seven CVS pharmacies in Southern California have gone on strike, demanding better pay, improved healthcare and protesting what they say are bad-faith negotiations. The strike, which began Oct. 18, affected four locations in Los Angeles and three in Orange County, with pharmacy technicians among those participating.
6. CVS Health appointed David Joyner president and CEO, effective Oct. 17, replacing Karen Lynch, who stepped down from the position.
7. CVS Health's Coram is discontinuing its infusion service offerings for antibiotics, inotropic medications, total parenteral nutrition and other acute home infusion therapies and plans to close or sell 29 regional pharmacies in the coming months.
8. CVS Health's top executive for customer experience Michelle Peluso is headed to Revlon to serve as CEO of the cosmetics company.
9. CVS Health is set to lay off more than 630 employees as part of a $2 billion cost-cutting initiative aimed at improving financial performance. According to a WARN notice sent to state officials, the layoffs will begin Dec. 8 and comprise 632 positions, including roles in technology, human resources and analysis. Of those affected, only 153 employees are based in Woonsocket, R.I., while the other 479 are remote employees reporting to Woonsocket leaders.