Gentiva CEO Tony Strange was effusive in his praise for senior leaders in the company's last earnings call:
I think they have done yeoman's work in getting out ahead of the costs on the cost side of One Gentiva. So I think from a cost perspective, I would tell you that we are where we expected to be or even further along from where we expected to be.
Those on the inside know One Gentiva cost cutting did not slow in the third quarter. In fact it accelerated. The company decimated our site, a serious blow given the ongoing trauma inflicted by our Branch Manager. We no longer give exceptionally good care and for that I grieve.
Due diligence is the period where reductions are made so the new owner doesn't look like the bad guy. It puts the company in a position to pay higher interest expenses on an ongoing basis, assuming revenues don't drop.
Think of it like a new home where the buyer takes on a bigger mortgage. Without more income something has to be cut to fund the increased house payment. It could be food, electricity, clothing, whatever. In Gentiva's case it's anything and everything. Leaders are cutting expenses willy-nilly.
One Gentiva continues to shed employees, some completely while others face hour reductions. The company expects savings.
Any employee wanting to put a dent in those savings and help themselves at the same time should explore unemployment benefits. It varies by state but consider this advice from 2009:
Karin Patrick of Roseville works for a small non-profit agency and it's not doing well. Patrick's hours were cut from five days a week to three. A colleague, however, was laid off.
So, Patrick decided to see what the state could offer her if she eventually gets laid off too. What she found was that she didn't have to wait, she could apply for benefits right now.
"That was a big surprise," she said. "I'd never heard that."
Lee Nelson of the state's Department of Employment and Economic Development - or DEED - said placards in workplaces describing unemployment benefits clearly say that you can get state help if your hours are reduced.
"I don't think in anyway it's hidden from people. You won't find it on a billboard anywhere," he said.
Gentiva buys unemployment insurance and the more people that use it, the more Gentiva will pay in the future. This may be an option for those who've been laid off or had their hours reduced. Think about it if you've been harmed in the latest round of cuts. You could help yourself and thumb corporate chiefs simultaneously. That's not a bad bargain.
Q3 ends in a few hours. How will this nefarious crew torment employees in Q4?
Anonymous (from Gentiva)