February 8, 2018 / 12:35 PM / 2 months ago

BRIEF-CVS Health To Invest In Wage Increases And Benefits Following Tax Cuts and Jobs Act

Feb 8 (Reuters) - CVS Health Corp:

* CVS HEALTH INVESTING IN LONG-TERM AND SUSTAINABLE WAGE INCREASES AND BENEFITS ENHANCEMENTS FOLLOWING THE PASSAGE OF THE TAX CUTS AND JOBS ACT

* WILL INCREASE STARTING WAGE RATE FOR HOURLY EMPLOYEES TO $11 AN HOUR, EFFECTIVE APRIL 2018

* IS ALSO CREATING A NEW PAID PARENTAL LEAVE PROGRAM

* ‍IMPROVEMENTS IN EMPLOYEE WAGES AND BENEFITS, WHICH ARE LONG-TERM AND SUSTAINABLE COMPENSATION INVESTMENTS, TOTAL $425 MILLION ANNUALLY​

* ‍CVS HEALTH WILL NOT INCREASE EMPLOYEE PREMIUMS FOR 2018-2019 PLAN YEAR​

* CVS - PLANS TO ADJUST PAY RANGES AND RATES FOR MANY RETAIL PHARMACY TECHNICIANS

* ‍COMPANY IS ALSO CREATING A NEW PAID PARENTAL LEAVE PROGRAM​ Source text for Eikon: Further company coverage:

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