There are previously posts saying the layoff is coming at 8/7, good news is that prediction is wrong. bad news is that it will come later and will last longer. So instead of anxiety on one day, anxiety will last for three YEARS, I start to feel the layoff page for CVS is going to reach max capacity soon for the website and administrator may have to temporarily suspend this page
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When will Talik go? And his croonies!
OP is insinuating everyone just be nervous for the next three years? Stop with the fear mongering. Downvote me all you want but that’s what it is.
Well Les Carter and Megan Henson are also out as of this morning
Keep in mind during an election year, democrat aligned companies might hold their layoffs until after the election to avoid any news that might look bad for the current party in power, and Karen seems to be on at least one board for the current admin (the Presidents Export Council) (conversely an R aligned company would let the layoffs rip, but Karen seems to have been on a couple of different groups for the current admin)
On the “making an average of 120 per year” … important to clarify that when you reduce headcount you don’t just save on their base salary… there’s also reductions from their bonus, their equity payouts, the cost of their benefits (401k match, healthcare, etc etc etc)
Out of the $2B of multi-year savings, $500M is slated for 2025. As a reminder, last year they announced $600M of cost savings which was accomplished by laying off 5,000 employees making an average of $120k a year.
no layoffs today, business as usual
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.”
the only good news is that brian kane is out, if you read the ceo statement, ceo was not even trying to be polite by saying "we appreciate service of...." etc. hope more directors/svps can be axed if the company really wanna money savings
Saw the corporate news and I'd say this is the closest to the truth here in a long while.
Seems Karen just axed Brian Kane (Aeta CEO) and no other heads for now. Keep in mind Brian Kane said 'yes dear...whatever you want'. Before him was Dan Finke who said 'not a good idea' and he was cut.
More to come later for sure over time.