CVS is a Great Example of the Dead Horse Theory. Instead of dismounting, they buy a new saddle, change the diet, get a new trainer, or change jockey. The reality is that the horse is dead. CVS needs changes to the dead business model. Physical stores, third world junk, nurses in closets being billed as physician encounters, massive denial schemes run by discredited fools, PBM shakedown operations, massive upcoding schemes and more need to be left behind. More layoffs won’t help. The d-mbest move is to increase merit pay as the layoffs progress. An extra $5000 for doing the work of 2 fired employees won’t fly. Give some of the “ Executive Directors” a Reading assignment.
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Moving more work to India next! While we get nothing. Oh an Aetna, Taday moving to a new role? New guy from UHC?
CVS playbook:
More outsourced Indians.
More layers of management between directors and executives.
More 10-11 figure acquisitions that are immediately judged as being re--rded by anyone with an IQ >65.
Cut out the IT Indian overhead. These guys hire 10 to do the job of 1 or 2. Salaries they are paid don’t make sense because these guys can’t do the job either
Meanwhile the local indie pharmacists in my metro area are doing a gangbuster business and very price competitive with all of the chain dr-g companies.
They certainly do love their cheap slave-labor goods from China.