Care New England Faces More Changes – Already Cut Work Force from 8500 to 6500
Monday, June 26, 2017
Care New England’s (CNE) board recently voted to hire national reorganization firm Alvarez and Marsal (A&M). Depending on who you ask, you get a different explanation of why A&M was tapped and what the impact will be. Make no mistake about it – A&M is often known as a workout firm that restructures and leaves “blood in the water.”
It is hard to believe there can be much more job slashing. The healthcare conglomerate has already slashed jobs from 8,500 to 6,500, according to CNE sources. CNE was Rhode Island’s second largest private employer — Lifespan is the largest. The reduction of 2,000 at CNE is more than the total number of new jobs created in Rhode Island in the past four months.