You'd think everything was coming up roses, after that touch base. I guess we are so good that they won't be doing to retail for the 2 Billion in cost saving.... Right?
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The problem is that CVS needs to look at serious long term cost savings, instead of quick fix short term budget cuts. Layoffs and hours cuts lead to additional issues when there's less resources and staff to get stuff done.
A two-hour long commercial. It was deadly boring. Meanwhile days before on the Finance Town Hall Tom C. was asked where cost savings were coming from and was pretty frank that promises made to Wall Street would be fulfilled by a combo of things including looking at real estate CVS doesn’t need, stopping doing some things and that resource reductions were not the first, second or even third place they looked. He never said they wouldn’t happen, though, and noted that the workforce is a primary expense for any organization. I imagine they’re trying, but there’s only so many $ to find looking under couch cushions.
Just remember that transparency doesn’t exist at CVS. Corporate will say whatever they want you to hear. They said they’re gonna cut 2 billion in expenses, but in typical fashion, offered no specifics. And then have town halls and conference calls and say that everything is fine. Be prepared for anything. That 2 bil gotta come from somewhere.
Seem to recall 2 qtrs ago everything was fine until it wasn’t, then earnings call surprise Wall Street handed CVS there azz on a platter. So fine isn’t always fine
the emperor has no clothes
That’s bull because multiple positions on my team will not be backfilled “to assist with the cost cutting needed to make up the savings” per my senior VP.
My team is very much retail….