I can only assume that rumors about massive layoffs coming after the next earnings call are true. What else is left to do but cut and then cut some more?
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All the money went into oak Street and signify...those 2 hucksters walked away with millions after selling their cr-ppy companies to a d-mb ceo who couldn't help herself. Mark my word, oak Street and sig will both fail, and we'll be on the hook for 18 BILLION
What happened to all the money they made from being a primary Covid Vaccine Provider? There markup on shelf items and pharmaceuticals is unbelievable. The stores are filthy. The Minute Clinic is the only thing I like about this company.
Activist investors are not innovators by any thought.
These days companies need innovation to excel.
I've seen legacy companies reinvent themselves but our problem is now we have a debt handcuff.
So debt + monolithic thinkers at the top..
Remember..
6 to 12 months expenses
Reduce your debts
Update your resume.
Not sure about past the point of no return but sure looking worse and worse. A few reasons:
- There is no clear vision of what the company is and what it wants to be to be successful. Karen bought a bunch of parts and hoped they would fit.
- No serious leadership to make calls and hard choices. DJ was brought back from retirement to be a figurehead. OK guy but figurehead.
- Consultants, teams, committees and activist board members now all have a hand in 'the fix'.
Getting near that Point of No Return.
If Intel and Facebook can cut 15k workers with little disruption so can cvs...but will they? Karen loaded this company with so much debt that a bankruptcy may be the only way out at some point.
There’s plenty of redundant workers in corp comms who sit around doing nothing in their cushy WFH jobs.
Here's my take. I think they can still save the ship. But, corporate refuses to take the necessary steps needed to do so. So CVS will die on the hill of hours cuts and no staffing, and outdated technology. That and all the other problems they refuse to address also.