Health
CVS Slashes Bonuses After 2024 Profit Fell Short of Target
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CVS Health Corp. cut bonuses for some employees because of last year’s low profit levels, a sign that the health-care conglomerate is still trying to recover from setbacks that led up to the departure of its former chief executive officer.
Bonuses for regular CVS corporate employees will be more than 60% below target levels this year because the company’s 2024 adjusted operating income was under a threshold used to calculate compensation, according to records reviewed by Bloomberg. In 2022, bonus levels were 80% above targets and in 2023 they were 50% above them, records show. Last year’s bonus information wasn’t available.