Thread regarding CVS layoffs

Super hard to trust this board. Between the crazy comments and The Engineer most info is nonsense. But the few points about Director, Lead Director, Executive Director and AVP, when combined, make sense.

Within parts of CVS Health there are smaller business that have more than a few situations with people at those levels who have no direct reports. They are paid at the level of someone who leads a department. Though they are more customer facing and that level of person is needed to interact with customers where the customer is often a director, VP or above.

CVS Health is made up of several small business that have staff that are at those levels. Examples of these business include Coram and the parts that make up HealthSpire where both are closed or cut.

Next Layoff is coming few days before the Thanksgiving. Company is going to lay off and say "Thank you for your service and good bye."

Layoff number is between 1000 - 2000. Company is trying to minimize the PR Damage.

Yes, 2900 casualties is not nearly enough. Intel dropped 15k without blinking, Amazon cutting 15k managers...cvs has REAL issues and unfortunately the new leadership has no experience in this area. They will chop chop chop

Yes, count on it not stopping until we start beating earnings estimates, at least. It’s bad, folks.

What about people who are laid off but then they find another internal job within CVS ? They will have laid off again most likely ?

I just asked this to my Magic 8 Ball, I got the same response I did when I asked “is Trump going to win the election?”

@jul+1v9uvGxn Both. Under exec director if you are a Lead director, with no directs you are subject to job elimination. There are people at Exec director and VP level who do not have the required amount of positions under them to keep those titles. Promotions are frozen. Realignments are done for the year. As another post said, Does it make sense that you would have multiple Lead Directors under the same reporting chain?

Is the sky blue?

Do you mean lead director with no direct reports or executive director?

Apparently if you are a director or above with no direct reports, your name is also on the next cut list. If you have less than 6 directs as a director your staff will be reassigned No more realignment either in order to keep a job.

Yes. Rough math here. They need to save 2 billion. If 2900 people were laid off and they each made 100k, that doesn't equal 2 billion.

If you have been moved to another department and there are multiple levels of the same job level reporting to each other or if you are within that 7 year retirement window, Its not a matter of if, but when. Rumor is December.

Layoffs are done in stages and planned in advance.