Asset Protection Team being downgraded as we speak and were informed this week that they will no longer receive stock options and bonuses. Asset protection district teams will be replaced with auditing specialists at 75% of cost which is standard auditor salary. Regional LP Management team will increase and will be in charge of 3-7 auditing team per division.
Our former RLPM have been eliminated. Please grab the doors so that they are not swatted where the sun does not shine.
Front store is a fraction (very small fraction) of the overall business of CVS. It may appear to be a huge part of the business from the stores end considering it takes up the majority of the footprint but it is a dying business. This is a nice to have for the pharmacy customers at this point. With the deals in the work, understand leadership is not shying away from what they expect to shift CVS' model to. Walk-in, clinics, blood pressure centers, healthy weight loss clinics. That is the future of this business.
You nailed it on the head buddy! We are not done changing and streamlining, if you think cvs is done streamlining you are a fool.
The RLPM was demoted. The former Regional LP Manager became the DAPL but with more responsibilities and work. They were not told that they were effectively being demoted but they have been. The new RAPM position is really the old RLPM position, so a select few kept their jobs while the rest of them were demoted and will be replaced through attrition. The former Senior RLPM was also demoted if they became a RAPM. They went from Senior RLPM to just a RAPM.
Stock options were stripped from the District Asset Protection first, negating any raises they might see. They have effectively been redlined and the position will become one of auditor and light investigations at 75% of the current cost. The company does not have the guts, nor the respect for the DAPL, to call this what it is. Therefore, they are cowards.
Anyone think this is cause for a suit based upon the fact that they were not given a choice? Ops received a choice and severance. DAPL's received more work...less pay...and a demotion. They were informed on phone calls.
What a dumb post. So they went through this realignment and spent weeks figuring out what DAPL was going to have what districts just to whack them all 2 weeks later? Make any sense to anyone?
So, they are doing this in February, instead of waiting for their reviews where they would receives bonuses, correct?
Still sounds like Wal-Mart, when they recently closed 63 SAMS locations, and notified their workers by FedEx, with a loss of over 10,000 jobs.
So the auditing Teams will only audit internal, not external, which was always a reason to have a Loss Prevention Team, in all parts of retail, as well as other industries, correct?
I am not in the know, but I surmise that the sell of the Front Store to Target was part of the "Buy Target Pharmacies" deal one year ago. Correct me if I am wrong.
CVS has lost it's way and needs a change in leadership. The Front end is a huge business that leaders have decided to bleed to death. They blame it on Amazon but there is plenty more blame to be assessed in corporate for the stores decline. Starts with selecting the wrong people in the organization and continues with operations focus on the reports of the day. $80 a share is the result of LOSING THEIR FOCUS. Several of the leaders are former Revco and Peoples leaders. Old and tired with no new ideas. There idea starts with cutting something. No growth mentality. It might be to late. Sell Front Store to Target and focus on Pharmacy.
will this have any affect on dc's lp?