Logged onto the home page and Brian Henry (SVp corp communications) had posted an article “ensuring our continued competitiveness”
In it, he states ~1% workforce reduction.
It was posted at 7AM today (est)
Good luck to those who want and congrats to those who are jumping ship.
Does anyone get the feeling that people who were laid off have not been notified yet?
Anyone wonder of all the laid off employees how many are TCS or ex-TCS...? With ex-TCS fraternity in high places, they ensured their brotherhood is safe. They know, if ex-TCS employees on H1 visas are laid off they need to leave the country...so they are not touched and focused on non-TCS citizens. So unfair and unethical. TCS is like a virus ki-ling the company from within.
Karen needs to go. Ever since she came into the role everything has gone downhill not to mention CVS golf charity, Christmas parties. Bring back Mr Ryan.
Maybe do what Lifespan did and eliminate %20 of executives!
Is Coram taking another hit?
@dku+1uLIiR7d hopefully because the BOD are shitcanning her stupid a-s.
Anyone know why the Karen email never went out and it was a secret posting on heartbeat instead?
Can someone post what was shared on heartbeat?
I’m not getting a hit when I search Heartbeat for CVS Health Severance Plan?
How does the SVP of corporate communications collaborate if he's fully WAH?
Does he not know what kind of culture he's missing out on?!?!
Strange, according to leadership collaboration and culture is so important that they need to track our badges. Seems really important, right?
Does that mean our jobs are more important than the SVP of corporate communications?
How many other SVPs are exempt from RTO?
What kind of games are we playing here?
How do you determine what tier you are?
I agree, that this was a bit shady to put this on heartbeat vs a company wide email. With that said, now that this is out there when will the folks that are affected be notified. I haven't heard anything in our department. But i'm going to guess if this was done in the manner that this post was, the people affected will be blindsided. If it wasn't for this platform I wouldn't have even seen the post.
To not look on the CVS network go here, starting on page 11
https://www.bing.com/ck/a?!&&p=56761da7881eb640JmltdHM9MTcyNzY1NDQwMCZpZ3VpZD0zMDUzYjU2ZS04YTRiLTY1NDgtMDY5Mi1hMDY0OGI2MjY0MjEmaW5zaWQ9NTE4MQ&ptn=3&ver=2&hsh=3&fclid=3053b56e-8a4b-6548-0692-a0648b626421&u=a1aHR0cHM6Ly93d3cuc2VjLmdvdi9BcmNoaXZlcy9lZGdhci9kYXRhLzY0ODAzLzAwMDAwNjQ4MDMyMjAwMDAwOC9leGhpYml0MTAyNS0yMDIxLmh0bSM6fjp0ZXh0PVdIRVJFQVMsIENWUyBIZWFsdGggQ29ycG9yYXRpb24gKHRoZQ&ntb=1
@fnp+1uLIiR7d go to ColleagueZone and search for "CVS Health Severance Plan". There's one for store employees and non-store employees.
Severance payout is based on years of service (no rounding up) and your job grade. You can find both in Workday, just click your profile icon in the top right corner of Workday. Within the profile page, your years of service are visible on the Summary tab and grade are visible on the Compensation tab.
@fnp+1uLIiR7d Go to ColleagueZone and search for ‘Severance Plan’
private hedge fund takeover…….
Does anyone remember what the severance was last time? There was a table my years of employment by job level, something like for 110 level and 10 years of service you got 8 months.
"I am saving my personal stuff - like resume, any w2 related, pay stubs, 2023 comp in a folder - are we allowed to send that to ourselves." in my experience the filter doesn't let you send anything with an SSN through email. so you might have to screenshot or export in a creative way. try it though. none of this stuff is sensitive or would impact your severance, as they're personal financial documents.
Post from TheLayoff.com
The number of weeks is on colleague zone. Depends on your level. Good luck!
I am saving my personal stuff - like resume, any w2 related, pay stubs, 2023 comp in a folder - are we allowed to send that to ourselves. I do not want to do anything to impact my severance. Been here a long time…want it like everyone else deserves that’s let go.
Did anyone see a WARN report? If no, we get the additional 2 months before separation right?
Don't they need to issue WARN notice with 100 or more employees impact to provide 60 day notice? I assume they didn't because of the severance pay will be more than of 2 months pay
The first clue is I didn't see a morning roundup email when I signed into work today which confirmed the rumors that something fishy was happening. I decided to visit the Heartbeat site and there it was. At least have the ba--s to put it on the morning round up instead of being shade and only putting it on the Heartbeat site.
Geezus whatever tiny sliver of respect I had left for the leadership is gone out the window with how they're handling this.
Good luck to us all.
That’s a lot of layoffs. They need to be transparent- how the F can they run operations with that many potential roles- Mar, Aug, Oct
How are we as consumers supposed to live, fire Karen. Take her bonus, these c-suite need their bonuses taken away.
They probably didn’t send a separate email (assuming one isn’t on the way for later today) because they’re trying to minimize panic after last years absolute disaster of a layoff strategy where they announced upcoming layoffs via an incredibly vague email weeks in advance.
It’s weird to me that they announced this on heartbeat via an article instead of an email. Some people don’t look at heartbeat every day. Does anyone else think this is weird?
I will never understand them dragging people back into offices and the expenses of renting, electricity…etc. But then turn around and lay people off to save money.
Did anyone receive the note over email? Curious
Can someone share what are the things to ask/say during the call and download/save after the layoff call? It will be helpful to know in advance.
There’s a discrepancy in numbers, 3k vs the discussed 7k, because this is likely just the first round
Karen Ly--h tongues my an-s.
I hope they include district leaders and regional directors on this layoffs list.
Usually those announcements are from the CEO as KL did last year. Curious
Everyone reading this needs to understand that this is just the first round; CVS Health has overextended itself to the point of unsustainability. Despite whatever comes to pass this week, expect layoffs in bulk to continue as part of "recovery efforts" as Karen works to mitigate the damage that the executive leadership has caused by not forcasting headwinds effectively. March 2025: 4000 additional layoffs. August 2025: 3000 additional layoffs. October 2025: 2500 additional layoffs.
This is already being planned. Make no mistake, if you are on the health plan side, you are already at great risk.
As you know, the company is making progress on a multi-year plan to deliver $2 billion in cost savings.
In the near term, the company has reduced travel, marketing, consulting, and real estate expenses.
Longer term, it is investing in artificial intelligence, automation, and technology to enhance how we work.
Our industry faces continued disruption, regulatory pressures, and evolving consumer needs and expectations. We need to be competitive and operate at peak performance.
Before taking actions that would affect current colleagues, the company prioritized finding cost savings everywhere possible, which included closing previously open job postings. Taking a careful and thoughtful approach has identified changes to streamline operations, eliminate redundancies, and optimize productivity.
In addition to these actions, the company will be reducing roles representing less than 1% of our overall workforce. These changes, as challenging as they are, are necessary to help the company deliver on its commitments.
The majority of notifications will be communicated this week. Impacted colleagues will be eligible for severance pay and benefits, including access to outplacement services. There is no impact to our retail store colleagues, including pharmacists and pharmacy techs.
These decisions do not diminish the value that impacted colleagues have brought to our company and to the people we serve. The work we do is vitally important. While this news is challenging to read, these decisions are also necessary to position us for the future.
"How much of that is the supposed $550MM savings previously mentioned?"
If it really is 3000 employees then they're talking average $183k cost per laid off employee to the company (salary, benefits, etc). So average pay of maybe $150k? Idk what that might tell us about who's affected
No job security here at all
How much of that is the supposed $550MM savings previously mentioned?
I wish they would just tell us already. This waiting is horrible.
It's such bs. Karen has to go. Every year before Christmas there's a damn layoff.
She shouldn't take a bonus at all. Let's keep and eye on that.
It says less than 1%. I heard the number is around 2,700. That is a lot less than the 5 and 10% previously reported on this forum.
Not saying this is a good thing. Just saying to not believe what you read here.
It doesn’t say less than 1% of non retail employees, it says less than 1% of the overall workforce which is approximately 3,000 people. It just says retail employees will not be part of the cuts.