Target will be taking over the FS side of the buisness. They already have small format stores in SF called “target express” i have been in them and it’s pretty much a cvs. Cvs is admitting defeat in the front end. They are willing to cut loose the 20% of profits by getting out of the fs headache. Think about how many people they could lay off in the company with a fs side. 2018 is going to be a wild year. Target will probably offer top managers position with them though
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Where did CVS post that they will not be re-purchasing shares this year?
Everyone post what state your in and avg weekly sales and payroll budget. Just doing some comparison.
Guys, the website looks it’s a prank..
Cvs posted today that they will not be re purchasing shares this year. No share buy back, first year they have not done a share buy back in 13 years. Is cvs worried about the value of the stock by not doing a re purchase, sounds like it to me. If they dont want to purchase shares, maybe somethings in the pipeline
How long is the NDA good for?
Lose your severance and options if you break the non disclosure agreement thats why it matters 30 days later
If you have been removed by CVS, then why is everyone posting as anonymous? Does it matter 30 days later? Tell the world.
Trust me, they know now!
Trust me - the eliminations were true and in staged mass forms to avoid the “ugliness” of how the last 2 years have been. I was one of the many that were eliminated. Not a good feeling to be going into 2018 jobless however I must say that I am sleeping much better at night since the 11/29 announcement. Onto bigger and better things - Best of luck to those impacted, I understand your pain after many years of loyalty.
Because its not public knowledge yet. If anything official got released the stock would drop out of fear. This is the site to pay attention too.
After 4 days of internet searching, I am not finding any information regarding the Target takeover, or the elimination of a large amount of jobs, in December, by CVS. I wonder why?
Recently proposed merger of two giant players in healthcare, CVS Health, one of the nation’s largest pharmacies, and Aetna, one of the largest health insurance companies. With annual revenues of about $240 billion, the newly combined company will rank second only to Walmart among American companies. Will the merger fill unmet needs for access to healthcare, or is it going to create problems?
CVS, 10,000 pharmacy and clinic locations spread across the country, and Aetna, which covers about 22 million people, paint a rosy picture of how the combined company will deliver healthcare. Patients, they say, will have access to high quality, low cost care that’s as convenient as their corner drug store. Merging pharmacy and health insurance data, as they tell it, will help assure that patients don’t fall through the cracks, will improve the health of local communities, and will reduce overall health costs. Consumers will be the beneficiaries.
This is the case that the two companies must make to regulators. The emphasis in anti-trust enforcement is on the effect of the merger on efficiency on whether synergies will reduce costs and benefit consumers. The effects of mergers on competition, consumer choice, and worker outcomes rarely concern the Federal Trade Commission or the Justice Department.
The CVS–Aetna merger has focused on its effects on patient care and healthcare prices. Will the merger create “a new front door to health care,” as CVS’ chief executive claims? Or, will it further limit choices for consumers and restrict patients to silos with access only to a narrow set of pharmacies, doctors, and clinics? Will the merger lead to lower health care costs? Or, will the market power they gain through consolidation allow them to charge prices that increase their profit margins?
Retail clinics may be more convenient, but they have not yet demonstrated that they reduce overall healthcare costs. And, CVS is already one of three very large and highly profitable pharmacy benefit managers, which oversee drug coverage for insurers and hospital pharmacies. PBMs wield great power over drug companies by their ability to choose which drugs will be stocked by hospital pharmacies and considered “in the formulary” when purchased by insured patients. They have not used this power to bring down drug prices which, instead, have continued to rise.
Higher prices to consumers are not the only danger of market concentration. Consolidation may also increase a firm’s ability to hold down the wages of its workers. In the case of large employers with a national reach, not only are the wages of their own employees likely to be negatively affected, but there may be downward pressure exerted on wages throughout the industry. Tthe so-called Walmart wage effect. Will the rapid expansion of employment in retail health lead to depressed wages for health-care workers in retail clinics and the industry more generally?
Wages are already stagnating or even falling, despite their rising educational levels and strong employment growth since 2005. Restructuring of the healthcare industry, characterized by both the consolidation of hospitals into large health systems and the decentralization of health services delivery to urgent care centers, surgi-centers, and free standing imaging and emergency departments may be part of the reason. Research I conducted with Cornell found that median real wages of all full-time workers in outpatient facilities fell by almost six percent between 2005 and 2015. Median real pay of medical technicians was $4 an hour less in outpatient care centers than in hospitals, ($17.67 compared with $21.60) and the median real pay of health aides and assistants was $14.72 in hospitals and $14.28 in outpatient facilities.
With the prospect of cuts to Medicare and uncertainty over the future of the ACA in Republican tax plans likely to accelerate this trend.Companies pursue consolidation strengthen their market position and enhance their profits.
Regulators charged with evaluating such mergers to examine the effects on workers, as well as patients, in deciding if they should be allowed to go forward.
but it would be in target's best interest then to keep the cvs's FS open for 1 main reason: PRODUCT COST.. with more stores to feed, they can negotiate LOWER prices since they would order more from the suppliers.. now you can drop prices to be even more competetive with walmart and slightly amazon
When the dust settles, if CVS is paying rent to Target guess who has the keys that open the store in the morning. Anyone know someone who works for Target? Can it be any WORSE than working for CVS? Sharpen your skills and show them what you can do. You have a one year job interview. If your new District Leader is Front End make sure he wants you on his team when this goes down. He will have a tremendous amount of input when the time comes.
I read a reply from an individual who is waiting for unemployment, not a good idea unless your lazy and single. (and living with your parents) To those of you looking past the nose on your face, Happy, Healthy and Prosperous 2018!!
You guys who think the deal wont go through are fools. Its going to happen just accept it and realize you’re fate.
Something is fishy here. The DOJ, under TRUMP just went to court on the AT&T proposed merger. Why would they not do the same on the CVS-Aetna merger?
But, in this instance we are talking about vertical integration, not horizontal integration like Walgreens and Rite Aid. This could be a much trickier argument to put forward to the DOJ.
Waiting costs money. Money that they will not get back. The aetna deal will go through undoubtedly with the current political party we have in office. Its not like cvs is buying a competitor creating a monopoly for consumers. Its an insurance company with many different companies to choose from, its not like brick and mortar take overs
Why wait? Most new DL are pharmacists by trade, most the FS skilled DM’s were let go. Keep the pharmacy DL’s because soon all they will be managing will be the RX side of the buisness. Think about all the Rx sups that got promoted, and think about all the non rx dms that got let go. They will need skilled DLs in Pharmacy to cover the rx portion of the buisness for target. Phase out non Rx field management. Keep rx field management
If this is the case, then why the restructuring of the company? Why did CVS just wait, and allow the "vertical merger" take place, then lower the boom?
Now I get the whole picture. Thanks for explaining, and, yes, it makes all the sense in the world. The only thing that could throw in a monkey wrench would be the rejection, by the DOJ of the merger. Do you agree?
what does this mean for distribution centers?
The info came from a close friend of mine who has been a regional manager for 7 years with cvs. He was let go and his last day was Friday. It all makes sense to me personally. The whole real estate team was let go as well. Why would a company lay off all the real estate team if they were going to continue to grow. By letting them all go means they wont be needing them anymore. Why would cvs spend revenue in fs payroll if they planned on selling out? They would just be wasting money. Since they know an acquisition is in place there going to pinch every penny until then. Pray for the best, prepare for the worst.
This is all true, we saved them by buying their pharmacies. Target is also hurting in business. It would only make sense for both parties to join together, the opportunities will be endless. Target stores will have Cvs pharmacies, minute clinics, hearing aid clinics & vision centers . Cvs will pay rent in those stores and will bring in customers using their new Aetna insurers. It’s a win win for 2 Retail companies that are Struggling . Take this statement to the bank end of 2018 or beginning of 2019.
Awaiting your response.
May I ask, if this is just pure conjecture on your part, or do you have proof?
Makes a ton sense. Target has their sh-- together for the most part. CVS has no clue how to operate a retail business. Are you hearing this from someone in the know or is it just speculation?