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CVS Health to L ay O ff N early 2,900 E mployees As reported by Reuters , CVS Health said Tuesday, Oct. 1, it would lay off about 2,900 employees, representing less than 1% of its workforce, to cut costs.

Resources for Reporters Whether you need summary data from our cutting-edge research, or in-depth interviews with workplace experts who can translate complex ideas into cogent quotes, WorldatWork is your go-to resource.

Resources for Reporters Whether you need summary data from our cutting-edge research, or in-depth interviews with workplace experts who can translate complex ideas into cogent quotes, WorldatWork is your go-to resource.

Traditional expense management strategies such as cutting offerings and shifting costs to employees are “out” at many organizations, given the tight labor market and the importance of being able to recruit and retain top talent.

He also informed his employees that those who opted to stay with Facebook but leave Silicon Valley to live and work in less costly locales should expect a pay cut if they go that route.

However, that same sector is leading the pullback, with Apple, Microsoft, Google-parent Alphabet, TikTok, Twitter, Netflix, Amazon, Shopify, Snap, Meta, Coinbase and more announcing job cuts, slowed hiring and reduced spending .

Zenly, the social mapping app Snap bought in 2017 and has since run separately, will also see deep cuts.

For instance, if wellness-focused benefits such as mental health days are cut, employers should emphasize robust employee assistance programs and anti-bias training that, when effectively implemented, can help reduce some difficulties employees may face in the workplace, Benefits Advisors’ Kloss said.

Workspan Daily article;A Sustainable Culture for Employees to Thrive In , Workspan Daily article; ; Thirty-five percent of employees would be willing to take a pay cut in exchange for an overall healthier work environment , according to a recent survey of 800 HR leaders and 800 full-time employees by career development and outplacement firm INTOO .

In a risk-conscious economy, organizations that succeed will be those where: ;Compensation supports financial agility; ;Incentives reinforce strategy execution; ;Governance strengthens trust; ;Workforce investments are capital-disciplined; ;CHROs and CFOs operate as strategic partners; The future of TR is about precision design, not cost-cutting.