To cut costs, CVS will shut down 271 retail stores by 2025.

Washington D.C.: CVS, the world's second-largest healthcare provider, has announced that it will close 271 retail stores across the United States by the end of 2025. This move is part of the company’s restructuring plan and was shared with shareholders last week.

CVS aims to simplify its organizational structure, improve operational efficiency, and cut over $500 million in costs by 2025 through this decision. Currently, CVS operates around 9,100 stores in the U.S. Between 2022 and 2024, it had already closed 900 stores while opening 100 new ones.

The store closures are being decided based on several factors including population shifts, consumer purchasing patterns, the density of existing stores and pharmacies, access to pharmacy care, and local healthcare needs. However, CVS has not yet officially released details about which stores will be closed or when the closures will occur.

The shutdown of this pharmacy chain, which is relied upon by tens of thousands of Indians, could significantly impact the Indian community in the U.S. Many may now need to turn to other pharmacies for services. There are also concerns about how the existing pharmacies will cope in the future. CVS, founded in 1963 in Lowell, Massachusetts, is currently headquartered in Woonsocket, Rhode Island.