Crisis atmosphere has taken ahold from top-down over the last 48 hours. 100% travel ban Indefinite hiring freeze even for current positions and backfills Complete ban on outside consultant and contractor spend, including ongoing projects Even the employee recognition rewards program is suspended Urgent begging emails to get vacation logged asap Rumors of big problems in CVG Rumors of RIF coming in Q4 Any insights to what is going on? Are we all screwed?
Confirmed on all of the above except for rumours of rif. All contractors were given a 2 week furlough.
CVG forecasting an $80-120M miss due to the VAD market falling out from beneath them. Pulling in spending to balance out the issue before Q3 reporting. Probably back to normal in Q4.
VAD sales plummeting, pacemaker recall, 483 warning letters blocking new product approvals within CVG and crazy knee jerk spending controls established in true panic form. I can't imagine an announcement of a Q4 RIF...for fuck sake lighten up y'all and start looking on the bright side!
Trying to cut corners and doing things on the cheap is catching up. Strategy has been to double down on bad strategy. Leadership is bad across the board and getting worse.
Any word on changes to the Respiratory/Nellcor division? We cant be making any money for the company, concerned about restructuring.
When will people wise up? Omar is going to drive the company into the ground like Jeff did with GE. You can only cut so much to prop-up the stock price.
Amen to that. These clowns are managing the market, not building a sustainable growth business. The cracks are starting to show.
