Thread regarding CVS layoffs

Re the stock price move. Although there was some generally positive news in terms of inflation, it doesn't correlate with a 5% jump in CVS stock. You think people are going to buy more Cheetos at CVS?

@1jll+1uHWuHaT Stock market has been on a tear all this year, cvs stock after the last fall has barely moved. And suddenly when the entire mkt defined as at best as flat today, CVSH decided to pull out a biggest gain of months, even though comp shares have barely moved. I’m not sure if your analysis hold weight here.

Starts on 10/1 - Tue. Manager trainings on how to communicate to impacted colleagues were done Thu afternoon, and there’s one more today Friday. The training started with a reference to Karen Ly--h prior statement that the company continues to assess where savings can come from.

@1nkq+1uHWuHaT - the whole stock market is way up. Did every investor get updated on layoffs before employees? Your puzzle pieces are not working.

What’s your group

I spoke to my manager today, she seemed to believe that layoffs are happening mostly next week. She seemed to believe that most likely my group will be impacted, though she is not certain on the specifics.

Well if it’s any indication that they’re taking some sort of action, the stock prices up nearly 5% today. First time since August. That would tell me that something is in the works.

"This stinks for those that will be affected. I went through this last year. I was blindsided, but not. This is not the company I started with. Aetna was amazing and friendly, warm, welcoming. CVS ruined that."

CVS people say the same thing. But really, the truth is that modern corporate greed ruined it, and both companies were going down the same road long before the merger.

There is no guessing....the meeting to provide manager instructions happened....the layoff will happen next week. WARN notices are the law if over 50 people and will show up next week then the layoff happens. Employment termination date is 12/8 to cover WARN laws.

You won't see WARN notice until after people are laid off

That means your manager will layoff two onshore employees lol

I think people can chose to believe whatever they prefer. It is all guess work until it happens. I’m in the corner of it is happening.
However referencing WARN notices to support your believe is likely inaccurate. Most of the major layoffs these days happen without a WARN. That is why people get severance pay.

Funny my manager just hired two new offshore guys

There are no warn notices in Rhode Island 24 8/22/24 Riley Power Group North Kingstown 117
10/21/24 (for within 14 days after)
No
7/31/24 7/31/24 Ennovi Advanced Mobility Solutions Rhode Island Inc East Providence 205 1/1/25 Yes No
7/8/24 7/12/24 Kirby Perkins Construction Middletown 58 9/6/24 No No
5/15/24 5/20/24 The Claflin Company Warwick 30 7/15/24 No Yes
Rhode Island laborers' Local Union 1322 of the Laborers' International Union of North America, AFL-CIO, 410 South Main Street, Providence, RI 02903.
5/4/204 5/9/24 ASM GLOBAL Providence 1,029 6/30/24 No Yes There are 8 Unions representing 800 workers. All 1,029 workers are being retained.
5/2/24 5/2/24 NMC North Smithfield 36 5/2/24-7/1/24 Yes No
3/29/24 4/1/24 UPS (updated Warn from previous one) Warwick 16 (additional) 4/30/24 No No
3/29/24 4/1/24 Volta Inc Woonsocket 1 5/31/24 Yes No
2/27/24 2/27/24 Lakeside Book Company Cumberland 48 11/15/24 Yes No
2/1/24 2/6/24 UPS Warwick 130 4/2/24 No Yes Teamsters Local 251, 121 Brightridge Avenue, East Providence, RI 02914
1/25/24 1/25/24 Los Angeles Times Communications LLC Rhode Island 1 1/25/24 No No

The warn notices in RI were not for Aetna. Sites indicate cvs filed 8/21, terming 10/21. 1-10 colleagues. I suspect these ppl have been told

Next

The WARN Database shows recent notices in Rhode Island for Hasbro, XPO Logistics, and the Aetna division of CVS.

She’s run this company to the ground!

What areas?

Happy Hunger Games, and may the odds be ever in your favor.

As a prize for surviving this round of layoffs you'll be receiving extra work without extra pay AND you get to go to the office 5 days a week in 2025. As is tradition your yearly raise won't keep pace with inflation.

Enjoy the culture though

This stinks for those that will be affected. I went through this last year. I was blindsided, but not. This is not the company I started with. Aetna was amazing and friendly, warm, welcoming. CVS ruined that. It took me a hot minute to land on my feet, but so much happier now. It’s not you it’s Karen. She absolutely 💯 su-ks. This too shall pass. It will be ok. You will be too. God speed, take care of you. Praying for all of you.

It did. Not a rumor. Last year it was announced, this year it’s quiet. Will start on Tuesday.

yes it did