CVS Health to cut about 600 jobs over next two months

November 3, 2016 3:12 PM EDT

People walk outside a CVS store in Pasadena, California, August 3, 2015. REUTERS/Mario Anzuoni/File Photo

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(Reuters) - CVS Health Corp (NYSE: CVS) said it would cut about 600 jobs, mostly at its corporate offices in Rhode Island, Illinois and Arizona over the next two months, citing an increasingly competitive environment.

The drugstore chain operator, which is expected to report third-quarter results next week, employs more than 240,000 people in the United States.

Employees being affected will be allowed to apply for other positions in the company, the company said in a statement.

(Reporting by Nikhil Subba in Bengaluru)

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