Thread regarding CVS layoffs

Having attended the Town Hall, I can tell you that it was held for Aetna employees because of the Aetna leadership changes. It was a restatement of the email that went out from Karen, as well as a recap of the earnings call. They don’t bring a bunch of ppl to a room and mass fire them LOL Y’all wild! This is a normal thing to do after leadership changes to attempt to ground ppl and keep them focused on their work. Not as juicy as ppl want it to be. Rather boring.

To the person who said what's below.... you know the least and you are the biggest child. G T F out of here.
But it's clear you are CVS management as you act just like them.... do you run the PMO by chance?
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You all just speculate and make cr-p up in here. Case in point: the person who said we’d be getting an email about layoffs yesterday morning. Did that happen? Absolutely not. No one who posts here has any clue about company finances, layoffs or business operations. Half of you don’t know the difference between CVS and Aetna and I would guess a good portion of you don’t even know what Business Unit you work for, judging from the comments you make.

Everyone just grow up.

She didn’t say “layoffs” but you could definitely read between the lines!! “Redundancies eliminated”, “Using AI over hiring people”.

No mention of layoffs…. If there are more than 100 layoffs don’t they have to forwarn everyone?

do share the outcome from townhall. I am from CVS. apparently we didnt have any townhall.

@1jjz+1tTHmY9o, there’s legitimate concern from my supervisor. In my time on her team, she’s never spoken with such nervousness and hesitancy. The town hall will be a motivational pep talk which is the LAST thing anyone wants or needs to hear. Here’s my opinion, I would hope that Karen would have some kind of epiphany and realize that hiring and firing BK within a year should shows her inept ability to make decisions worthy of a CEO. She seems like the kind of person who doesn’t like to take ownership of her personal failures so we will see what kind of pity party she decides to throw this afternoon.

Small layoff happened in June.

Mass layoff will be announced next week - 7% workforce.

To the not so smart people saying 'everyone posting on here knows nothing'. I can confidently say, some know a lot more than others, but for the sake of not outing themselves on this forum they have to keep quiet until more info is released by the company or someone else. It is in EVERYONES best interest to keep your resume up to date and check the job market.

Obviously there are going to be troll posts feeding into what is going on that might not actually happen to be true. On the other hand there are likely very true statements being made on what is going to happen or might happen. Rumors start from a source of truth, don't forget that.

In my past experience in other companies, just be aware it will hit both sides.

• They will get ride of C-Suite people first, which ever company C-Suite members remain takes over.
• Smaller cuts are made before that announcement, which we have already seen.
• Hiring freezes start, which we know has happened for some departments based on this forum.
• Then they evaluate getting rid of redundancies between the two, also getting rid of top heavy management. Plus reorganizations
• Then it can go one of two ways
  Mass lay offs OR Small undetectable lay offs

You all just speculate and make cr-p up in here. Case in point: the person who said we’d be getting an email about layoffs yesterday morning. Did that happen? Absolutely not. No one who posts here has any clue about company finances, layoffs or business operations. Half of you don’t know the difference between CVS and Aetna and I would guess a good portion of you don’t even know what Business Unit you work for, judging from the comments you make.

Everyone just grow up.

I never knew that they put on different pony shows for the different companies- or is this something new? Hmmmm...

The town hall is Aetna only - likely to follow up on her rapid fire emails from this morning. I guess we'll see.

Nobody was Mandatory move on its what we know already. She's in charge. So no layoffs a big chunk was regained by the people going.

only for aetna. cvs retail remote are good for the next 3-4 years

What Town Hall?

Karen is going to announce that she will be taking over Aetna because of the low performance last qtr. It is already in the news. I do not know if there will be layoffs, however, they are hiring in Dental Customer Service in AZ. She got rid of Brian. good luck

Yes cut 2B over 3 years. With I think cost measures, layoffs/re orgs, limits on travel expenses. Probably pulling out of certain markets. Margin over membership is the theme here!

Our fearless CEO will once again blame the members who dared to use the insurance we sold them as the reasoning for our lackluster performance. Bravo.

why does she have them so late in the day?

I don’t disagree that the town hall is to calm nerves, but there’s only so much consoling people can do. Karen’s email mentioned that the company is going to cut $2 billion. There are going to be a lot of layoffs, it’s only a matter of where are they going to start and how many people will it ultimately affect.

Town hall tomorrow is probably to smooth things over and calm nerves. There’s no way they would bring everyone into a town hall to tell them we are laid off. That would be unsafe. It’s to smooth things over and tell us the next direction.

I got an email for the town hall. My supervisor called my team into a meeting and said that whatever is going on isn’t good. She doesn’t know specifics but said the company is struggling and that changes are going to be made.

Brian Kane left the company. Voluntary or not we don't know. I'm sure that's why they are having an Aetna Town Hall.

Not necessarily

That’s for the people getting laid off. There’s another one on 8/13.

…this is for Aetna only.