Manager told us we are safe and has confirmed with VP too. Don’t believe any rumors on here
36 replies (most recent on top)
Possible Plot twist: the OP’s VP is one of the first ones getting laid off, hence their ignorance!
As many in this thread are mentioning, there is likely to be an announcement on Monday and most individuals (in this first round) will be notified on Tuesday 10/1
Why are they not announcing the layoffs this time ?! Also are we just going to continue to do this every year ????? It’s a bit much ! How do people keep working in a constant state of fear ???
Stockholders create about profits. Layoff indicates you are working on your bottom line hence the jump. Will jump even more if KL leaves.
Can someone explain why the stock is up and how that connects to layoffs? Not familiar. Thanks
Lmfao..rivian stock is up more.
Word must really be getting out.
4% stock price jump this morning. Word is out.
Do we know if this is one round or multiple. Honestly I wish it was all done next week. This will help both sides where people impacted can move on to new (and hopefully better) things while people remaining can pick up the remains and try to make things work until next year.
Dragging this over multiple rounds just leaves everybody in limbo.
Of course timing ain’t great with job market and holidays coming up but hoping the WARN and severance can cover for the holidays and people impacted can find new openings by early 2025
Karen promised huge cost savings on the last earnings call, at a level that can’t be achieved just by changing our business practices. Unfortunately, that means employees will be part of the equation. Every business unit across the enterprise has been reviewed, including Signify and OSH, which means there’s a good chance that every business unit will have been impacted by the end of next week. The impact will greater on some than others, but I don’t think any CVS entity is going to walk away fully intact this time around.
There is a second manager training today and the sessions are being recorded for those who are unable to attend the live sessions. Also, the process, manager tools, colleague guides are basically the same as last year. So if a manager went through this last year they may not need to participate in the training again. My point is don’t be complacent or feel secure just based on the number who is participate in the calls yesterday and today.
The determinations, names, are made many different ways. But generally, yes, your manager is involved in the conversations. Given they have to assist in determining where the cuts can be made that others can pick up the slack.
@1glt+1uHVpCdO - There are over 30k people leaders in the company. Unless only VPs were on the HR call then 300 direct report managers is a small number. I don’t see thousands being laid off from 300 people leaders being on the HR call.
@1glt+1uHVpCdO The name was submitted by who?
@1glt+1uHVpCdO thank you for the heads up. appreciate if you can let us know on the areas impacted
What areas are being effected?
@1glt+1uHVpCdO - you actually sound legit but color me skeptical still.
If you think they are providing training on handling the entire layoff process for hundreds of notifying managers to only layoff 500 people, you’re sadly mistaken. This is going to be massive and I’d suggest similar in scope to last year or larger. They do not give that information out on the call. We won’t find out the scope until after everything happens. We were also told Karen will be sending an email out Monday morning with general language alluding to the fact that hard decisions are being made and impacted colleagues will know soon.
Names were submitted months ago. Legal reviews everything and then gives approval on each name. Severance packages are determined. We are downloading pdfs and reviewing supplemental documentation related to the layoff and what email we have to send to impacted employees after we call to notify them. They also said these can start Monday 9/30 on today’s call.
Good luck to all, this next week is going to be ugly for a lot of us
@tlw+1uHVpCdO
Bbig enough that they had 300 managers in training to learn how to execute the process. And there is another call tomorrow to do the same for those who did not attend today
Since you attended the layoff call for managers, how many employees are being job eliminated? CVS has over 300k employees plus another 75k contractors. There is a big difference between 500 job eliminations and 30k job eliminations.
There are 300 people on a call RIGHT NOW with a SVP and VP from HR learning about how to have the layoff conversations. These can and will start Monday and be done by Thursday 10/3. It’s funny that anyone is here saying this isn’t happening. They aren’t doing this for a small layoff. This is exactly how it was last August.
That’s what management told me before I got laid off last year.
That's not entirely true in September there was forced quietly resignations. They get you out the door more than one way
You will know the truth come next Tuesday.
true for engineers across company. current shorthanded and $10,000 bonus for remote engineers who know cloud. bonus looking good!!!
There were rumors about 5k to 10k being laid off in August and September. It didn’t happen. I.T. laying off a small number of employees that didn’t trigger an announcement to Wall Street or Warn notices isn’t the rumors that have been circulating for months.
July and August did have permanent full time IT laid off. It was just done quietly.
Just remember not everyone seeks this information out or would like to share. It's embarrassing.
Whether or not layoffs are coming in the next few weeks is irrelevant….
But the whole “my VP/Director/manager/dog watcher/whomever told me they aren’t coming” BS is false.
Last year someone who is now the president of a CVS Health company told me and my manager to our face “your team is safe from all layoffs”. We then survived the initial layoffs ONLY for my manager to be told sometime later “you or have to loose 1 person because they are not identified with the original layoffs”
That person was blindsided because we were told we were safe literally 2 weeks prior.
I don’t trust any “so and so said I’m/were safe” because the word of anyone in the company is worth about as much as used toilet paper.
I’ll keep working till they me I’m gone and then fu-k them all!
I bet layoff plans were moved back because of RTO. The writing was on the wall at the beginning of the summer. We HAVE to have a strong Q2. We just have to. And then we didn't.
In July there were rumors about layoffs in August. In August there were rumors about layoffs in September. Neither was true. Now there are rumors about layoffs in October. Maybe it is true this time but the people who post these rumors have zero credibility based on being wrong so many times in the past.
I wish there was a way to contact people here, I have a bridge I’d love to sell to the people that seem to think the $2B cost savings won’t involve laying off a ton of people (it’s happening next week, good luck everyone)
My VP told me it's happening and then sent me this website to watch.
There is no VP in the company telling anyone to go to this website to watch for information about layoffs
My text messages say otherwise.
My VP told me it's happening and then sent me this website to watch.
There is no VP in the company telling anyone to go to this website to watch for information about layoffs.
My VP told me it's happening and then sent me this website to watch.
I think it’s a small group. Prob Low performers, 2s. Not a massive 5k layoff.
that’s cool that your particular team may not be impacted but HR is literally holding hour long training sessions this afternoon and tomorrow (Friday) morning with notifying managers who are the ones doing the actual layoffs next week.
Pi-s off Karen