If you think things have been tough the last few years, you ain’t seen nothing yet. Deeper cuts both in corp and retail store. Everything will be on the table from employee compensation and equity to reduced inventory in stores. Employee engagement will be worse than ever effecting the very customers/clients you need to put money in the bank . Your company is in a near death spiral. It’s reactionary mode. Cuts lead to inefficiencies, and poor service which leads to lost revenue which leads to further cuts. They will amputate the fingers to save the hand, cut the hand to save the arm, and cut the arm to save the body until there’s nothing left to cut. You guys are toast and the street knows it.
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To add to my previous comment, they could have brought Larry back. But then that would’ve been very awkward as Karen succeeded Larry, so replacing her with the man she replaced would mean that she failed. They could’ve also went for new fresh ideas and brought someone in from outside the company, but instead they went for someone who knows the business and what they’re up against. Now this isn’t fear mongering, it’s just the fact that CVS needs someone to right the ship. He’s not coming out of retirement for nothing. So yeah more than likely they’ll be changes. That said, typical of CVS to pick a company insider to run things, when I think new fresh ideas is what’s needed right now. But it does speaks volumes to the problems right now that cvs is dealing with if they need a steady hand who knows the business to right the ship. That tells you the ship was indeed taking on water.
Over the last 2 years, about 8,000 people have been laid off, several executives have either been fired or have left on their own, and even the captain of the ship was replaced. If you add in all the store closures and hours cuts, and now even whole business sections being downsized significantly or even shutdown, it’s so clear and obvious that CVS is in trouble. Now maybe the OP is a bit of a disgruntled former employee, but can you blame them the way CVS treats employees? And technically he’s right in his assessment. Does anyone really think that David was brought in here (out of retirement no less) to have one last go around for old times sake? No, he was brought in here because the company is in trouble and the ship is sinking. So what do you think he’s gonna do, hold hands and sing songs? No, he was brought in to save the company and that means hard decisions need to be made, and alot of them in my opinion.
It seems to me that the "Miserable Ride" post was written by someone with a grudge against the company. The language used, "you guys are toast". This is unproductive and obviously offers no information of value. It's derogatory speculation which doesn't help anyone.