Missed on Q2 earnings Brian Kane out, Karen/Tom overseeing Aetna, multi-year plan to cut $2B. The ship is freaking sinking. Unbelievable.
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Workforce Reduction 25,000 (Layoff 25,000 with $80,000 salaries) will save $2B. This plan was in the works since last year and start the execution from fall 2024 until Fall 2026.
There is no hope for this company long-term. Junk leadership for way too long.
@fih+1tTRSmwj “streamlining and optimizing operations and processes," read as "relying even more on vendors and outsourcers promising the moon and delivering excr-ment with 10 month turnaround times"
“To help turn things around, CVS said it will initiate a “a multi-year expense management opportunity to deliver $2 billion in savings” that will include “streamlining and optimizing operations and processes.”
No argument on Brian Kane. One Yes Man gone and a new one to come for sure.
Keep in mind Dan Finke didn't say 'oh, yes Karen you are so smart' and poof he was gone. Seems he was right too.
Good riddance Brian