Thread regarding CVS layoffs

This is awful. I'm so sorry, People.
I was this who they let go, because I refused the shot. I enjoyed working there too and was disappointed I had to leave.
I thought, given enough time, I would return, not the case now it seems.
I'm absolutely disappointed.

I work at a location that isn’t closing but I still don’t feel safe. We still don’t have any answers. I received texts messages from from friends and then my best friend about Coram closing and how she was sorry before we even knew. I had no idea what the cr-p she was talking about. We still don’t know a dang thing and it’s ridiculous. It’s not fair to ANYONE!! We are all family and have worked very hard to take care of patients and then get treated like this. It’s uncalled for. They should Be ashamed for themselves.

Don’t use names, that’s against the website’s rules. Site mods could nuke the whole thread

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For those that have a 401k and will be moving to some other company other than CVS: do NOT take your 401k out yourself; you will get hit with taxes and penalties! The best thing to do is to consult your financial advisor and seriously look to do a ROLLOVER to a brokerage account like Charles Schwab, Fidelity, Vanguard etc. They will know the proper way to rollover your 401k without tax or penalties (and will submit the proper paperwork)… if you don’t have an existing account with a brokerage firm, call any of them and tell them you want to open up an account to ROLLOVER your 401k. Doing it this way, your 401k will then be in your name forever more

Your termination papers speak to 401K loans. You have to read all the fine print in all those documents.

If you don't repay your 401k loan, you're in default, and the remaining loan balance is considered a withdrawal. Income taxes (federal and state) are due on the full amount. And if you're younger than 59½, you will owe an additional 10 percent early withdrawal penalty as well.

If you pulled money out of your 401K. And you do not pay it back that is A tax hit that you’ll take in this calendar year. It becomes taxable income.

This really sucks !

Does anyone know for sure what happens with outstanding 401k loans? How are those expected to be paid back if you they aren’t scheduled to be paid back before the end of the month?

They email you termination papers the day they tell you you are laid off. Check your email for details. Lots of fine print

Sorry to say my entire location has been terminated. What can we expect from a severance package? I’ve already heard help finding another position, emotional support yada yada but what about from a financial perspective? Show me the money 😜

17 years wasted on a company.

I've been with Coram 10 years. Got the ax two days ago. My last day will be 06/30/22. Always had great reviews, told I was "an asset" to the company. Was always hearing how Coram was rock solid and CVS has earned billions. So, mgmt was shady AF for the past couple years lying to us. Always told we're not losing our jobs. We would be trained on EPIC and I remember the director saying "none of you are losing your jobs, there's always something to do in EPIC". Yeah, sure. She's got her job & blew us all off two days ago. For the ones remaining, don't get comfortable and think you're better than us layoff's. Word out there from reliable sources is that the 2nd round is on it's way. You guys are just mopping the floors before the lights are turned out.

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I'm in my late 30s and got the news that I'm one of them to be gone. End of June, gone, done, ended. No hints, no warnings, no nothing. Others I know were all ages - 20s, 30s, 40s, 50s, 60s. There's no age to the lay off like some think there is. No amount of time at job either. 1 year employee told to leave just like the employee of 22 years. They must have been blindfolded and just getting rid of any name they picked out of the hat.

We were told 2 days ago that we were being laid-off, in a phone meeting that was scheduled to go for 30 min, but went for 10 min. She (boss, won't mention name), didn't even take questions or comments. It was simply telling us that Coram has decided to go another route, and that a large group of us were being laid-off. Then she says if we have any questions, to either email or IM her, or call the HR rep in the email we were going to receive. Then to add insult to injury, she wishes us all good luck, and to take care, and said "I'm ending this meeting" and literally hung up. A large amount of my dept have been there for more than 10 years. We've dedicated ourselves to the job so much so, that we worked when we were sick (remote), got our vaccines, postponed vacations, canceled doctor & dentist appts, worked weekends, late evenings, etc. all because we were dedicated to our jobs and most importantly, because we were constantly told we were "assets to Coram"; excellent employees; the "go-to employees for anything that needed to be done", etc. etc. etc. I'm sure everyone on here heard that, too. We really thought we had found good jobs, and lots of us bought houses, had babies, made major purchases, because we thought we had good jobs, good careers. For most of my dept that I talked to, they said the same thing: our most recent reviews were great reviews with hourly increases; were told that "she" mgr was looking forward to the rest of 2022 and working with us in 2023. Well that same mgr gave us 10 min of her time w/ no questions, no comments, and then ended the call without even a goodbye. And wow, shocker: her Outlook "light" has been RED every single minute for the past 2 days, and she's not responding to phone msgs, emails, or IM's. You can guess our feelings towards her right now. And on top of all that, the ones they "kept" were always known as the "undesirable's", but they get rid of us "originals" with years under our belts and we could our jobs with our eyes closed. Coram, you and your mgr's, supv's, & directors can shove it.

They're going to within the next 12 months, move all specialty dr-gs over to CVS Specialty. Sell the nursing side to Infinity. Then Coram will be done. No more Coram. Watch

Yes..you were made to take a shot or lose your job. Just to turn around and let you go anyway. Total act of betrayal

Make me get a shot that I did not want in order to keep my job of 10+ years just to turn around and lay me off!? I say we all get lawyers and get what’s left of CVS paid to the workers who made all that money !? Side note: If there are so many jobs available for us to apply for why are they not just assigning them to all of us. Maybe it’s because they’re lying!!!

Coram is being sold…no other explanation. As of today, they’re not taking Medicaid patients! Just “nope, we don’t do that anymore.” I have been yelled at by angry doctors, hospitals, and case managers, now. This company is now jeopardizing my career, professional reputation, and credibility.
HOW is this STILL unknown by so many people???

This article about CVS wanting to expand Aetna and home health expansion does not bode well for Coram.....they want medicare $$$

https://homehealthcarenews.com/2022/02/cvs-health-flirts-with-idea-of-expanding-into-medicare-home-health/

I'm not sure who is blaming co workers. Maybe your reading another thread. Or your in upper management and part of the problem. However the fault does lay with management and how they mis managed the business. They lied continually about how great we were doing, and made empty promises of " no onis losing their jobs. So please excuse us if we are venting. However there is a saying and it goes like this.." when you throw a rock in a pack of dogs, the one the yelps the loudest is the one you hit". ...

No one is blaming coworkers, however when managers are telling terminated staff wrong information, that affects their ability to make a living, this does need to be called out. Your non-compete is worthless once you're terminated. Work where you want. Sc--w Coram.

We need to stop blaming our co-workers. Coram was a failing business, they cut us to try to survive but it’s too late. Soon they will be sold, consumed, and their name forgotten. We will pave our way elsewhere, I applied for three jobs yesterday and already had a callback today.

As a side note, why is it that people commenting about how stupid their leaders and coworkers are misspell multiple words in their posts? I worked with Sabrina years ago, she is as sharp as they come and always fought for us. Those who criticize her don’t really know her. Maybe you should blame HR or Legal.

Did anyone know this about coram?
Home health-care provider sick from debt
By Marsha Austin
Denver Post Business Writer

August 9, 2000 - Coram Healthcare Corp., a Denverbased provider of home health care, filed Tuesday for reorganization under Chapter 11 of the federal bankruptcy act.

While Coram's financial health improved significantly during early 2000 - the company reported operating income of $4.86 million in the first quarter, up from $1 million in first quarter 1999 - the company has struggled under a weighty debt load.

Including debt, Coram posted a net loss of $4.87 million in first quarter of 2000. The company has not yet reported second quarter financial performance.

"Coram hasn't been this good in five years, but we just can't get there with this big bag of debt we're carrying," said Daniel Crowley, Coram's chairman, CEO and president since December 1999.

Coram filed in U.S. Bankruptcy Court in Wilmington, Del., for the chance to restructure and reduce its debt. It listed $389.8 million in assets and $416.4 million in debts in first quarter filings with the Se curities and Exchange Commission.

Chapter 11 protection allows companies to reorganize their finances free from the threat of creditor lawsuits. As part of its debt restructuring, Coram's three debt holders have agreed to forgive $71 million in outstanding debt, which will be converted to a 100 percent equity ownership stake.

Coram must have at least $70 million in shareholder equity so that physician investors can refer patients to Coram care pro viders. The federal Omnibus Budget Reconciliation Act of 1993, commonly called Stark II, prohibits referring physicians or their families from investing in publicly traded companies that fall below the equity requirement.

Coram was formed by the merger of four smaller home-health providers in 1994 and employs 120 people in Colorado and 3,000 nationwide. Coram provides inhome intravenous medical treatments in cluding chemotherapy, anti-blood clotting dr-gs for hemophiliacs and nutritional therapies.

Coram's corporate restructuring will not result in employee layoffs or affect patient care, said Kurt Davis, a spokesman for Coram.

"The company is current on all of its payments to vendors and we have adequate cash flow," he said. "There is no risk to patients." Crowley said he hopes to have Coram out from under Chapter 11 protection by this fall and back in the black by year's end. The reorganization means Coram will no longer trade on public markets and that shareholders will not recover funds on their investment.

"I am miserable about it," Crowley said.

"They invested and they were hopeful, and I just wish Coram would have been able to do better for them."

Shares of Coram Healthcare, which trades over-the-counter as CRHE.OB, were down 13 cents to 5 cents in trading Tuesday. That compares to a 52-week high of $1.25 on Aug. 11, 1999.

Tuesday's filing ends a rollercoaster ride of financial and legal misadventures endured by shareholders since Coram's beginning

This is just the beginning. In 60 days the next wave begins. The next launch to laying off 2nd wave. Then 60 days from then the last will be done. This is our thank you for being overwhelmed, overworked and underpaid. We the 1st responders who stuck it out while the world stayed home, we showed up, understaffed and kept business going without even a thank you. We were not rewarded, but cvs made billions! We were told we had to get the shots or lose our jobs, then they do this without a care in the world about all of us workers. They sit back in the home office and Don't think twice about all the employees and their families. The Managers on up were horrible and only cared about metrics not the hard worker.

These old big wigs across Coram that remained in their positions for the longest time, truly ruined Coram. They refused to adapt and have no business sense into the modern business environment. Useless dinosaurs. Eat $hit

KL is a piece of work. Not a good piece of work. This is all in an effort to sell Coram. They tried to sell last year but the books were bad. So now, by Q1 the books will be pretty and they can sell Coram off. Also, your non compete is invalid legally when you are laid off. Disregard whichever not wit is telling you otherwise.

East Coast here. Told yesterday I am leaving at the end of June. One of my supervisors has been here 25+ years, she is also being laid off as well. Note the day we all get laid off is the same day that CVS announces on their LinkedIn page that KL has been named one of Fortune's most inspirational CEO. Yeah right. There is definitely no rhyme or reason to the lay offs as far as age. I'm in my 50's and was on a call with a couple of mid-late 20 yr olds in our team. I've been here just over 2 yrs. They've been here about 9 months.
NOTE TO ALL THOUGH!!! If you are thinking about looking internally for another job, don't. I happened to notice today 2 things. The one posting I saw, didn't mention a pay rate. The severance package paperwork states that if you are offered an internal job and then turn it down, you ARE NOT eligible for the severance package. So if you are thinking about applying and saying "well let me see how much it's going to pay", think about your severance package instead. Good luck everyone. We can do this

Fu-k all the big wigs and their awful management. I hope you find a tu-d in your dinner

Announcement made yesterday communications with general pharmacy managers and staff yesterday. Not a peep on how this transition is working. DO' are not providing any guidance. There's a team that is supposed to assist with the transition of patients so that it doesn't put a burden on the individual pharmacies that are closing. It will all be on the senior managers and the general pharmacy managers and staff. There is no great transition transition team. Send those people out to the individual pharmacies that are closing it's not just the patients and the transition of patient care to other pharmacies but it is inventory supply, inventory, equipment IT equipment where does that land, it will all land on pharmacies to do this themselves alone manual labor. All to get a severance package? How do you expect this to work if those sitting in their offices or ivory towers if you will, don't pull up their bootstraps and get out into the field to help these struggling pharmacies get through this? The good old boys win again, comma there was no rhyme or reason of how people were chosen to stay in their positions there was no cross sectioning of placements in other areas... there's not even a list of open positions as a resource. How do you expect someone to find a job in the next 60 days, when they're working 40 hours A-day? It is a very sad situation and it really has nothing to do with the pharmacy leadership or the teams for the most part it is the lack of Oversight and and do diligence in managing in managing contracts that were written and allowing backdoor deals to get more Referral's comment leaving some pharmacies doing work that they did not get paid for and losing out on additional profits because no one was managing the business of referrals and contracts. Company remains top heavy with a bunch of people that really don't know what's going on but they have it on paper and that looks good. Shame on you Coram leadership!

When EPIC 1st was told to us in a meeting 2 years ago. They promised us we would not lose our jobs. They assured us no layoffs. Yet here we are. One thing is for sure. If the upper management is in a zombie apocalypse, they won't have to worry.....zombies only eat people with brains

There is no pattern, or ageism, or target people - they just legit sliced and diced, without a worry, or moments thought for employees, or even patients. AND they’re telling us we are all under a “non-compete,” until July 1st, 2023!!! I’m sorry I’m not leaving of my own free will, you no longer want me; but you think you can still control me???

I am so sorry that this has happened to so many, but please know that you are wanted at other companies if you have the 2-5 yr. experience in Home Infusion/RX billing. This field is a always looking for great people like yourselves. I see that Indeed has a lot of remote positions available in this space. Hope this helps at least one (or more) of you.

Was told yesterday that Aug 26th is my last day...Pump Management Jackson TN...Still A Little Shocked & Very Sad For My Coworkers 💔

Yep they had to cancel town hall today cause they don’t want to face the heat! They can’t seem to give an actual explanation. Upper management not available to answer our questions leaving supervisors to be the ones getting asked and the supervisors have NO answers! The new system Epic has lost the company so much money!

Directors and other senior Managers sinked this ship. Those who lost jobs they know their names. Hope not to work with them again ever.

I'm hearing that Coram is likely being sold. Business was miscalculated and is down almost 65%