...courtesy of MCK2021.
15 replies (most recent on top)
People keep saying layoffs are coming, but won’t provide details. I suspect they’re just trolls. Put up or shut up.
More details? .........
Confirmed Layoffs are coming.
I can only hope a major shakeup is happening. The layers of managers managing managers who in turn manage the people who actually create something is thick. I have seen a lot of productive people exit leaving behind the managing managers.
@UfXTrCF-egxg. Damn. I like you. 100% spot on!!!
What on earth are you 'no RIF this year' id--ts talking about? There have been RIFs EVERY year going back at least 5 -10 years. The 'leadership' of this company, across the board, is deeply inept and promote workers into management who are deeply unqualified. At least when they're not hiring their 'best buds' from other companies so that more can share in the MIPS. It's amazing that this company manages to stay in business when so many of its employees detest them. Corruption at its worst.
It might change if the board of directors grow a ball sack sufficient to can the Hammer, but unlikely.
In the interim, stop stressing and learn how tos crew them over because eventually they'll be doing it to you. And without lube.
Aka...offshoring as many functions as we can, to India. Right?
From today's earnings call:
"We also recorded restructuring and other charges in the first quarter. These charges
primarily relate to the ongoing execution of our multiyear strategic growth initiative. We're
making solid progress to restructure and reshape our operating model and investment in
strategic growth initiatives we have previously communicated. We're executing against the
operating model framework we previously discussed. As one example, after a
comprehensive review, we've expanded our strategic partnership with a business process
outsource provider, which will allow us to continue our transformation of key supporting
functions. This important step will allow us to swiftly move select functions out of our
operations into our business process service provider, reducing costs and increasing
We're making progress against our enterprise spend program. We've identified several
cost categories that will leverage the scale of McKesson. We're confident these initiatives
will generate meaningful and sustained savings. We expect to provide the quantification of
the operating model and cost-out targets next quarter. And we continue to expect to incur GAAP-only after-tax restructuring and other charges of approximately $150 million to $210
million in fiscal 2019."
You can doubt all you want ("blowing smoke"), but the fact is a small RIF has already happened in June, and a much larger one is coming between now and the end of March and will be across the enterprise. Obviously not going to name my source, only that it is highly credible. The primary goal of the 2021 initiative is to reduce MCK's cost structure - go back and look at the earnings call transcript from last quarter and you will see the language used that clearly indicates headcount in specified functions will be drastically reduced. So @UfXTrCF-3ozw, I'm looking forward to hearing your apology later this year once this does happen. Don't blame the messenger.
I wouldn't be surprised if a RIF does happen. In my BU, the writing is on the wall......
The poster is blowing smoke. There is not going to be a rif this year.
@UfXTrCF-3qab please name your source. Which BU will be first?
Cuts will be across the entire company.
For which business unit?