CVS Health's cost-savings plan includes closing 70 stores

CVS Health hopes to cut $3 billion from its budgets between 2017 and 2021, in part by closing about 70 stores, a move that should yield about $265 million in cost savings next year. Overall, about two-thirds of the cuts will come from the company's retail/long-term care segment, according to Chain Store Age, with the remainder being trimmed from the pharmacy benefits manager area.