I don't know but if it is such a shame you must know. So I ask you how many.
More Layoffs
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I don't know but if it is such a shame you must know. So I ask you how many.
There should be NO reason to lay off employees. These are mostly hard working people who work hard and the only reason I believe they are being axed is because SM is running scared and cutting costs is his ONLY management style.
This industry is GROWING Suryea ! Wake up and stop hurting loyal employees !
This industry is GROWING Suryea ! Wake up and stop hurting loyal employees !
Has not been a bloodbath yet. Only a couple let go but 2 of which were very, very talented individuals. Best of luck B and C. You will be missed.
I see training on the list. Didn't think we had training anymore.
What a stupid response. If you don't know the answer to a question just be quiet. Hopefully, you were targeted in this layoff. It is a shame to lay off people. I may still have a job but that does not mean there is job security. It rocks the boat for everyone. It is a shame. It is a shame that Surya can run a great company right in to the ground.
Yet you answer a stupid response with an even more stupid response. Sorry to hear that you might still have a job. Way too many of your type around here.
How many people work at Quest these days? About half from a 3 years ago.....so sad...
You are right. Quest has always fallen short on compassion.
Layoffs in Dallas and Houston too. Welcome to the world of do more with less.
Not sure why Quest always keeps everyone in the dark when it comes to layoffs. All it does is increase the fears and paralyzes everyone. You don't now how big or small the cuts are and you never know when they are over.
Just announce the numbers and a time frame. Then you know how bad it was and you can move on without constant debate on who, how many, when & why. In the long run that is the most destructive part of layoffs at Quest.
To answer your questions (just speculation from yrs of insight) :
Looks like multiple regions. Probable totaling in the 100's in all regions combined.
In any given business unit probable dozens let go. Seems both exempt and non-exempt as well.
For all his good Ken F. left us with the largest of mistakes in SM.
I'm a phleb from oregon and I just heard we had a bunch of layoffs this week, but I only know of one person for sure- she was a trainer. 
lame. All the phlebs are freaking out and a lot are looking for hospital lab jobs- sorry for everyone getting screwed over. Thank god our economy is rebounding and unemployment rates are dropping! (dripping with sarcasm). we need some better brains if this company is gonna survive.
lame. All the phlebs are freaking out and a lot are looking for hospital lab jobs- sorry for everyone getting screwed over. Thank god our economy is rebounding and unemployment rates are dropping! (dripping with sarcasm). we need some better brains if this company is gonna survive.700 people laid off is the word on the street.
As you read the financial statments for FY10 and 4th quarter, it states "Revenue decline driven by lower volumes, price reductions, and changes in business and payer mix offset by improved test mix and the number of tests per requisition."
Not a good statement. There was a loss of 1.3% in revenue for the year. The plan for FY11 is to grow 1%. Still does not capture what was lost. Interesting that the volume grew by 0.1% despite the statement made above. Doing more but getting paid less.
Since there was less revenue, the company needs to show similiar margins to keep stock holders pleased and not cause the share price to drop too much. As a result, the means to regain margin quickly is to layoff personnel. This is the same approach LabCorp employs.
Employees need to remember that these decisions are business driven, not personal. It sounds impersonal, but senior management has a fudiciary responsibility to the board and investors. No one likes this part, but it is a necessary evil.
The means to counter layoffs is for the company to grow their revenue and volumes. Other means to maintain profit margins is to reduce costs (let your mind run free on this one).
Is there one person or many persons to blame...no one knows for sure. I suspect that the clinical market is challenging and there needs to be strategic decisions to place Quest into high growth areas such as molecular diagnostics (look at Abbott and Illumina's molecular announcements...double digit growth).
Do not be surprised that there will be layoffs in struggling areas.
Not a good statement. There was a loss of 1.3% in revenue for the year. The plan for FY11 is to grow 1%. Still does not capture what was lost. Interesting that the volume grew by 0.1% despite the statement made above. Doing more but getting paid less.
Since there was less revenue, the company needs to show similiar margins to keep stock holders pleased and not cause the share price to drop too much. As a result, the means to regain margin quickly is to layoff personnel. This is the same approach LabCorp employs.
Employees need to remember that these decisions are business driven, not personal. It sounds impersonal, but senior management has a fudiciary responsibility to the board and investors. No one likes this part, but it is a necessary evil.
The means to counter layoffs is for the company to grow their revenue and volumes. Other means to maintain profit margins is to reduce costs (let your mind run free on this one).
Is there one person or many persons to blame...no one knows for sure. I suspect that the clinical market is challenging and there needs to be strategic decisions to place Quest into high growth areas such as molecular diagnostics (look at Abbott and Illumina's molecular announcements...double digit growth).
Do not be surprised that there will be layoffs in struggling areas.
so is this "700" round over? When does the next round occur? It is nice that they hit management along with the low folks....they still need to hit the Big money...to really make any difference...the low folks don't cost much...anxious to see when the next "announcement will be"....please advise if you know....
There was no announcement from Quest. If it were not for CF we would not really know the truth about layoffs at all. I am sure sales will be hit over the next few weeks after the leadership meeting next week.