Need help from the hockey peeps

What does this mean - "The Boston Bruins placed McEachern on waivers, and the 13-year veteran has cleared them. McEachern signed a two-year deal with Boston in August, paving the way for the Massachusetts native to play in his home state, but now he's likely to be assigned to Boston's AHL affiliate in Providence."

Does that mean he won't be playing for the Bruins no more. I ask only because he's on one of my fantasy hockey teams.