Sunday, November 20, 2016

Breier Flattens Gentiva Employee Retirement Match


Strange Tony,
 
Kindred struck the deal with Gentiva expecting to save and make more money.  Two years ago Kindred President Ben Breier set the expectation.  "Synergies expected to be north of $70 million at the end of year two of the transaction will be immediate — will be meaningfully accretive to our earnings."

Breier announced in his recent earnings call "on the Gentiva deal, we achieved $91 million of synergies, a savings at the high end of our already aggressive expectations." 

That aggression completely wiped out Gentiva employees 401k match for 2017. How much will executive bonuses rise from stiffing employees?  That information will be available in April.

If anyone feels run over this Thanksgiving it might have been Ben Breier on his Synergy bulldozer.

Anonymous (from Kindredful)

1 comment:

  1. They fired over 130 people yesterday.

    ReplyDelete