Correct me if I’m wrong but think that there will be a mass wave of layoffs in those sectors which overlap with the same positions at Aetna. The only question is who will grab the shorter stick, the employees from the CVS side or Aetna’s
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You might be surprised they will make cuts at Aetna, they have lots of dead wood, especially senior execs just sitting around doing nothing but pretend work, some don't even pretend. It is all known, but nobody hardly ever gets fired, so they'll welcome the opportunity to have some get the boot. The merger agreement says they have to keep a certain number of Aetna employees there (like 4500), but that isn't that much. Larry's eyes probably popped out of his head when he saw what they pay some of their execs salaries and bonuses.
Cvs can’t do what Aetna does and vice versa. Our stock is tanking because we don’t have as much redundancy as they wanted to eliminate. Which goes against everything they said about the merger...it’s gonna take them some time to figure it out, just hope they have enough money until then.
My guess is due to redundancy, yes there will probably be some layoffs. And to make it fair, it’ll probably be split down the middle so some cvs and some aetna will go, If you eliminate one side only that’ll look real bad.