I communicated May layoff previously. Expect to see restructuring in mid to late August. RIF to follow in both sides of the house. They are now starting to pick which products live and which get sunsetted to prep for IPO. You will see exodus on the product teams early this month. You'd have to be crazy to stick around in product. Tech teams that are high performance will be repurposed.
Posted by @OtMEpYH-7bqo, bumped to a thread for important info.
Not sure why McKesson was bought? I see it this way. McKesson wanted out of technology, they used this suite of products long enough. It needed lots of investment, mck did not see the value, neither did other purchasers. Change was in debt 2.5 billion. McKesson does a short term front of the funds for Change to buy, but they call it forming a new co so both sides can pocket billions...Now the new co is in debt over 6 billion, but it gets better. They soon will try to raise over 8 billion in IPO, McKesson will get 70% and run....this New Change will need to dig itself out of this huge hole it is in...most likely bankruptcy...if they feel they cannot raise 8-10 billion in IPO, then sell off of products will be done. All signed off on by your leaders. Reason why execs are leaving? Deferred Comp is not guaranteed. They can't risk the 100's of thousands they squirreled away.
Seems to me like they're just getting rid of McKesson in totality. Not even sure why they bothered to buy them other than the good name.
I don't hear much about the Mck IWCS side of things, either in the townhalls or on here. Someone said that the work from home employees are in the dark but even those in IWCS in an office don't know what's going on. We see executive promotions for individuals who slaughtered their departments, executives that have been here for decades leaving, but no real movement for anyone else, anywhere else.
It's been years of stasis and pinched off growth; how long will this last? What is going to happen to the Rad and Card lines? Anyone have insight on these folks?
Sale? Form a new Co? Please ! Just look at Change board of directors to see Jonny's motivation.
When do you think the layoffs for RelayHealth employees will occur?
There should be no doubt that a 3rd company was not formed as had been previously advertised. The MTS side was purchased, and legacy Change management will be dictating things. IOW, if you were a Change employee before, look for more responsibility coming soon. If you were a McK employee, look to be laid off soon.
Does anyone have information on legacy MPT office closures? There are two rumored to have closed in the last month - Vancouver WA and Riverside CA.....revenue cycle offices.
Cutting staff at profitable products is one way to stop growth and send a message they do not plan on growing, just squeezing tighter to get a few more drops of cash...that McKesson left behind. Disgusting
A bit delayed as they made some final product decisions last week.
From Relayhealth/MHS Interqual/CXT side two majors parts of biz look good as far as not being sunsetted but expect some more trimming in support/Dev areas even if selected as go forward product.
As far as layoffs as they relate to sunsetted solutions expect rolling announcements over next 4-6 weeks.
Approaching mid-August. Just wondering if any details of the upcoming RelayHealth layoffs have come to the surface?