Thread regarding Change Healthcare layoffs

Pre IPO RIF today

I’ve heard ~1500 will be let go today. Good luck people.

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Post ID: @OP+ZCZFrig

10 replies (most recent on top)

2 more rounds coming...your guess is as good as anyone as to when

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Post ID: @2kix+ZCZFrig

I was laid off yesterday Not sure how many folks were impacted. I worked for 2 years and 6 Months as a FTE and the severance I got was 2 weeks. I should have told them to keep it for their upcoming road shows for IPO. As they don't good $ I would like to donate my Severance to poor CHC Management so that they can perform road shows or else they might do naked road shows becoz lack of funds. RIP CHC.

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Post ID: @1opn+ZCZFrig

Dear R&D-IT Team,

As we’ve continued to reinforce since the beginning the new fiscal year, our third year as a company will find us making the transition from a company that is integrating, to a company that is growing. To make this transition successful, we must ensure we are operating as efficiently as possible – improving processes, refining organizational structures, and reducing expenses. Additionally, as with any organization, we need to look ahead and find the right balance between meeting customer needs, achieving near-term and long-term financial objectives, and ensuring we are investing in the areas that will drive sustained growth.

Considering this, today we had to make some very difficult decisions which resulted in the elimination of some positions across Software & Analytics and within the R&D-IT team that supports – and is resourced by – the Software & Analytics business unit. There were also some R&D-IT team members separately impacted by our cost reductions across R&D-IT, with impacted employees receiving a comprehensive severance package. For those of you who may know impacted team members, your words of support and encouragement would be welcome.

It’s important to know that we reviewed all parts of our organization to reduce costs in as many non-headcount areas as possible before arriving at this decision, including not filling open headcount requisitions, reviewing travel budgets, and reducing other operational expenses where possible. We will continue to be thoughtful when addressing cost reductions by examining future hiring decisions and by exploring Partnering for Success opportunities, when the access to talent, ability to scale, and competitive advantage make P4S the most thoughtful approach.

Although difficult, our leadership team believes that these decisions better position us as we continue building a strong foundation for innovation and growth in FY20 and beyond, creating opportunities for our team members, and enabling us to reach our greatest potential.

If you have questions about today’s announcement, please don’t hesitate to reach out to your manager or R&D-IT senior leadership. Your People Solutions team is also always available to support you if you have questions or concerns. I am committed to sharing updates on our organization’s performance and evolution as often as I can to ensure you feel informed as our journey continues.

Thank you for your continued support as we work to inspire a better healthcare system.

Alex Choy

CIO & EVP, R&D-IT

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Post ID: @xxx+ZCZFrig

Any details on layoffs today?

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Post ID: @nfu+ZCZFrig

I know of some confirmed layoffs so something is definitely going on.

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Post ID: @mip+ZCZFrig

All Staff at 4:30PM Eastern, today. However, I am confident that it is bonuses for everyone and one thousand shares of stock options at IPO strike, per employee. Wake up. WAKE UP!

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Post ID: @lfa+ZCZFrig

Anyone else hearing this number? As for the date, don’t have insider info, but I tend to agree with @ypn, if this turns out to be true it’s more likely to happen next week.

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Post ID: @ajx+ZCZFrig

RIF's typically occur on Thursday's and Friday's before the end of the Quarter. If this were to occur I would expect it to be next week.

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Post ID: @ypn+ZCZFrig

My best friend's sister's boyfriend's brother's girlfriend heard from this guy who knows this kid who's going with the girl who saw Neil talk about RIFs at 31 Flavors last night. I guess it's pretty serious.

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Post ID: @tui+ZCZFrig

any reliable source?

don't get my hopes up that I might be getting laid off today

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Post ID: @giw+ZCZFrig

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