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CVS Health expects to cut close to 3,000 jobs in efforts to cut costs, according to their annual report . The drug store and pharmacy chain reports struggling due to reimbursement rates for prescription drugs. The franchise has also been impacted by customers purchasing snacks and household items from other retailers such as Amazon, Walmart, Target and dollar-value stores. In an effort to curb their losses, the company has committed to a multi-year initiative to achieve $2 billion in cost savings. This year’s layoffs represent less than 1% of the company , although last year they announced that they would be laying off approximately 5,000 employees and closing around 900 stores between 2022 and 2024. The company also plans to incorporate more artificial intelligence via robotics into its operations. Despite their efforts to further reduce costs and improve the shopper experience, here’s how the CVS layoffs will affect employees and customers. How Will The CVS Layoffs Affect...
Black professionals are groomed to be resilient and steadfast, especially when it comes to entering the job market. When the coronavirus pandemic hit last year, the economy was sent into disarray. At its highest, the unemployment rate was up to 14.7% last April, the U.S. Bureau of Labor Statistics reports, and 16.7% of the Black population was without work. The numbers are stark, but graduates from historically Black colleges and universities (HBCUs) have continued to find a soft spot in the economy as they enter the job market for the first time. HBCUs were created to educate Black Americans when other institutions wouldn’t. Today, roughly 85% of HBCU students are still Black. Since 2016, the hiring rate for HBCU graduates has climbed an average of 5.9% year over year, LinkedIn shared in some new research, but there was a sharp decline last year for obvious reasons. The hiring rate for HBCU alumni fell by 11.9% in 2020, compared to a decline of 16.2% for all national LinkedIn...
Calendly, a world-renowned cloud scheduling app whose usefulness only increased in the wake of the COVID-19 pandemic, has crossed into unicorn territory. According to The Atlanta Business Journal, the app — which was founded by Tope Awotona — just raised $350 million in this latest round of funding. OpenView Venture Partners led the round with assistance from San Francisco-based Iconiq Capital. Calendly, itself, is a company that’s one of the fastest-growing in the field. In 2020, the company reportedly doubled its subscription revenue to $70 million, and as of this writing, more than 10 million people use the app each month to help schedule their meetings. What’s more, the app can also be streamlined with other apps, such as Zoom, which makes it desirable for busy professionals. “Our profitable, unique, product-led growth model has led to Calendly becoming the most used, most integrated, most loved scheduling platforms for individuals and large enterprises alike,” said Awotona....
There’s a lot at stake in the upcoming midterm elections. The political tide of the country could be changing and one Minneapolis based startup wants to make sure people are informed as they make their choices this November. Founders Damola Ogundipe and Yemi Adewunmi created Civic Eagle in 2015 to encourage civic engagement and political empowerment for U.S. residents, but decided to pivot the company in 2018 by creating a B2B product. Now, the team’s latest product Enview, a software that tracks legislation from across the country, is taking the hassle out of legislation research for organizers and lobbyists. Ogundipe, Civic Eagle’s CEO, said that he wants his company to be the SalesForce of civic engagement. Enview uses artificial intelligence and natural language processing to compile and analyze bills across the U.S. The platform helps advocacy groups, labor unions and other organizations manage and collaborate policy initiatives. Users can tag bills on the platform and sign up...