For all folks that are asking - for ChangeHealthcare, next RIF is June but don't know how many or which areas...
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McKesson had profits annually it was Change (Cha Ching) that needed 2.7 billion to get out of debt.
It's shocking that a Fortune 15 corporation like McKesson can be so deeply screwed up. These are some treacherous executives. May they ALL rot.
OP - Actually you are wrong.
Our stock reached it's peak on 12/31/1999 $112.06. It closed today at $45.58, so doing a simple math, unadjusted for inflation, the stock is still down 59.32%.
Also, using a simple 2% inflation factor, in 2017 dollars, the stock peaked at $156.91, so at today's price, we are 70.9% off the all time peak.
tl;dr: On 5/5/17, Oracle's stock price is 70% below it's all time high
New Forum for CHC:
Just a quick note - Change Healthcare has it's own board here: &change-healthcare or just go to it using this link: fiolettsk.ru/change-healthcare
Please spare the insults with being a smart rat. My Dad who is taking care of my sick mom and needs the healthcare just got laid off. It was the first time I have ever seen this kind of worry in his eyes. Some smart caring ones needed to stay.
The smart rats already fled the sinking ship
One of the directors that broke the news to us today said, it's going to be a rough year for everyone. A not so subtle hint at more layoffs and a heads up for us to start working on those resumes.
Let's be realistic this creation of a new co was the only way to sell old Change and MTS. The newco is a ruse. Cannot believe Blackstone fell for it. It will all be gone soon.
In McKesson's haste to rid themselves of all software business they made an extremely poor decision to get in bed with the enemy. Since news of the merger with Change broke customers have been bailing and it will only get worse. Not only is customer satisfaction suffering but employee's have little sense of direction and watched yesterday as their co-workers packed up their few personal items. Rumors of additional lay-offs within months have all on edge and direction of products are in limbo. What a great place to be
Getting news that more have been impacted in KOP. Including directors and a few more AVPs
Can anyone share what their severance package is?
King of Prussia lost folks too. I know of two VP's and a business manager being laid off. I'm sure there were more but I don't have that info yet.
They want to drop 1/3 of their workforce?
RIF = Reduction in Force
According to an earlier post, 394 current roles and 89 open positions were eliminated during this last round at MckChg. There will be another wave in June while they continue to "optimize". Get ready for RIFs throughout this fiscal year as they prepare for the IPO. An earlier post stated that MckChg was at 15000 when combined and 10000 is the goal. Not sure if this is accurate but you get the idea.
What does RIF mean in this context. I get that it is referring to the reduction in the workforce but what does the acronym stand for?
There are more than the 385 this week?