Thread regarding CVS layoffs

These strings are all 90% nonsense and cr-p with like 10% little gems floating around in there.

It's starting tomorrow Monday. That's about all I know. Note that a lot of people have tomorrow off... Many of those are managers who will be spending that "off" day in a really rough way, delivering bad news.

Going to be rough. Good luck people.

I don't care who gets laid off as long as it's mostly white people. I'm tired of looking at them all the time. It's not like they really earned the job anyway.

Whoever wrote this is clueless and making stuff up.

First did anyone notice all the EVP and SVP who all 'retired' in April after getting their march bonus and April stock? I've went through this with CVS at Caremark. Seems to follow the same pattern. Get rid of the old guard (EVP, SVP) and then a bit later lower levels. LIkely, and I DON' T KNOW they will hit managers and directors plus a few others.

If it follows what CVS did to Caremark then in a few months regular VPs will be out.

Time will tell but stop making up whole sets of rules to pretend you know something.

When I worked for aetna before the cvs merger we were given an announcement ahead of time like cvs did now and we’re told within 2-3 weeks . I just received a random call from someone I did not know at work . Maybe because my boss got layed off too. I continued to work and transition my cases as a um nurse for several months because u did not get severance package unless u stayed until the end of the date they chose. Fortunately got another job that was flexible with my start date so I was able to collect my severance too

Not true everyone is getting notice. They just made this up lol

Nobody on this site has any fu----g clue how this is going to go down. Stop with the bullsh-t.

145,000 sent overseas sounds good to Wall Street depression is coming.

No not that high for sure. If they laid off 150,000 that could spell doom for CVS. They announced 5000, and if they increased by 30 times then stock is going to take a big hit.

This means if it's on this scale the company is letting 50% of the workforce go. Not 5000. So 150000 nice to know.

I won’t speak for every area but there were calls this past week for all notifiers - the people who get the joy of actually telling those who are being laid off. Everyone has their list already who has to make the calls. I’m below an Exec Director level and I’m well aware of who from my team is impacted. We also have documentation that implies most people being laid off will work for a period of time and then get paid to not work for a period of time. And then go in severance after that. The idea that it’s with SVPs only and being cascaded the day of notification is not true. At least not for most of the org.

Sounds like some self important BS. Some makes sense and some doesn't.

Just guessing

@1rnw+1o4X7ajZ

Exec director here! we don’t know any list so far.. it’s with the evp/SVP level still. I didn’t even give a proposed list.

Wow no 2 weeks or 2 no just computer locked same day? right into severance

That is not at all how cvs layoffs normally go, at least not the last 3 or 4 big ones.

Anyone know about Digital teams under Yogesh?

Not true at a meeting late last week directors were told Sept 1st week will be the last day.

I’m not a VP. I know who on my team and org is getting let go and have for some time. That’s not accurate. . I can’t speak for every department but ours is not immediate they will have notice of when they’re last working day will be. No NDA are involved. It’s just confidential like all layoffs are.

I kind of would have thought it would go the opposite direction. Have the managers fire the analysts first and then they get fired themselves and so on. Doing it as described would mean many lower-tier employees would get fired by people who don't normally manage them.

Sr VP's notifying exec directors? VP level skipped entirely? Hard to believe unless all VP's are let go which is not possible for sure.

Director's (even if ur a requirement) u will be let go after unlet others go. Be prepared

Immediate layoff? Not a work until X date to receive severance?