What are your thoughts about potential Laboratory Corp of America Layoffs in 2019?
3 replies (most recent on top)
Labcorp is cutting positions based on salary not performance, so the high producers that built decent incomes over the years will be cut in favor of the lower paid low performers. It works short term but it is devastating in the long term.
Seems like they are letting go employees that have been with the company a long time and accrued many raises. Someone i know was with the company almost 30 years and just let go. The severance package was modest considering their years of service. Am I supposed to remain loyal to company that does that doesn't look out for its employees?
UHC will expose almost $1B in lost revenues over the next year and a half. PAMA has affected reimbursements. All of these factors force LCA executives to scramble to save the dwindeling stock price.
Cutting costs is an easy fix, yet it will translate into customer frustration, further exposing revenue erosion going forward.
Quest and LabCorp need to slowly adjust their business model to face the harsh realities of modern healthcare. Unfortunately, it will come at the expense of the employees.