Thread regarding Allscripts layoffs

@fxw The severance policy is you are eligible for severance after 1 year of service completed. The formula is the greater of 12 weeks OR 1 week for each year of service + 4 weeks with a maximum of 26 weeks. So basically if you have between 1 and 8 years of service you get 12 weeks then add 1 week for each additional year. This is for Directors and below. VP's get 26 weeks, SVP's get 39 weeks (I believe) both after 1 year of service. But the majority of folks impacted are Directors and below I would think. This policy hasn't changed in the past decade maybe been in place longer.

Nothing new! Wash...Rinse...Repeat

Veradigm is laying off employees with over 20 years experience, giving jobs to inexperienced employees in India in order to save money.

@kva
Good for the ones there for a short time.
Bad for the ones there for years.

@16x it was 12 12-week continuation of salary regardless of time there.

but had to keep a tight lid, in case of any violation of the blah blah and them being litigious for saying any thing..

There was a formula for severance as explained below, and there has to be a formula now.
So none of you know what it is now?
Why is everyone so vague on here when making anonymous comments?

Severance? If their dead beat management teams had to pay back the undeserved bonuses, I have heard mangers who left the company are now back with the company after being let go from the company they jumped too. Testiment to there complete lack of skill knowledge? How many millions were wasted in development division? A leadership ladder of incompetents. You had 1 job to do. Protect and grow the product. Failure

Around 200 were let go, which is about 8% of the total Veradigm workforce. Severance was minimal. For those who remain, expect more soon.

They completed lay offs in early March and now again today June 6th. It was mostly RCS Employees.

Clearly I don't work there?
Well I certainly did work there for years and left in 2024.
I know how severance worked for years, but things could have changed in 2025.
So, if you work there (or did until 2025) please elaborate.

For years they have provided severance of 1 week for every year you worked + 2 to 4 weeks up to a max of 26 weeks. I think there may have also been a minimum severance, but not sure of that. I think some upper management folks had contracts with possibility of different terms and were “retired” instead of “laid off.” They use to require one to sign an agreement to the severance terms which also included verbiage that you would not discuss the terms of your agreement, so many people are hesitant to talk publicly; however, there was always a lot of water cooler discussion about the severance terms.

Clearly you don’t work there.

Seriously, no severance at all for anybody?
How about bonuses this year?

Any numbers on folks who got caught in the rinse,repeat,rinse repeat cycle? Let go, hired someplace,letgo, hired back at veridigm only to be let go again?
Rough cycle to get caught in.

Yes. Everyone received a nice severance package.
If anyone was interested what it was, then it was BOOT FROM BEHIND!

Did they atleast give any severance package who got laidoff ??

Yah, the ScienceIO acquisition was a joke, they had achieved nothing in the time they were there and were blissfully ignorant as to the nature of the data they were working with.

But leadership continued to tout their 'progress'. That same leadership touted the PM system's progress and continued revenue generation, yet they were part of the cuts.

They keep using the phrase "respect" when talking about the layoffs but the actions of the leadership team are anything but 'respectful'. It took 2 years to restate the financials and frankly, I doubt they are accurate. Most likely it was just the auditor dragging out the process to rake in the consulting fees.

Over the last 15 years what has the stock done? Now it is at $5, congratulations MDRX E-Suite -- you have achieved an epic failure

Most cross industry experts agree veridigm's reported claims they purchased anything remotely close to anything AI was well , like their reported numbers over that past 10/15 years. "No proof, none existent, vapor.From a Technical & development point of view, the company was and still is incompetent. Printing AI on your sales slicks/decks does not make it so. It has been awhile since I walked away from this POS. Is the Raleigh location still open, I had heard they vacated almost all the floors in their leased building with exception of few cubes.

This is really shocking you don't hear about the removal of ScienceIO. That acquisition was rife with kickbacks to a parachuting executive team who couldn't keep a balance sheet (or didn't want to for.... reasons). The great LLM-AI ScienceIO team has done fu-k all while their former CEO pontificates on X about inspirational Avocado toast and hidden demons.... by now the tech is already a generation behind.

Funny a 6 month graph of this trash heap financials performance shows a electo cardio FLAT-LINE. Well done, well done or maybe "Never more,Never more" is more appropriate.

Payer impacted…heard it was across all areas
Can anyone comment on how many total layoffs there have been in the last 5 or so years?

As per the usual leadership behavior there was no transparency at all, so hard to determine who got "riffed" Heard the count was >100 but no insights to what areas

Heard 66 people were let go including many in FMH, couple in marketing, and a VP who used to be in PM.

This is not surprising. Just over two years ago, on February 8, 2023, a significant portion of the R&D team connected to Allscripts (Veradigm) Practice Management was let go. This action continues a cycle that has lasted for years. Best wishes to all that remain!

Some Revenue Cycle management has been hit, not sure of anyone else.