Just curious if anyone thinks Bristol will continue equity for pay grades below management level and sales reps? Anyone heard anything, is this our last year?
all we get is this year according to the agreement, after that only elect pay grades are "eligible" and even then, the formula depends upon how BMY does, how the division does, and how our individual teams do. I can't make sense of it but from asking around, the award, if we get it, is much much smaller. I miss Celgene, where everyone had skin in the game and everyone tried their best
I agree, I wish Bob Hugin would have stuck around as CEO instead of Alles selling us off. My only hope is they bump the salaries up a bit to compensate for the post equity. I've got a coworker who's joining my department. I'm gonna see if she gets any equity, I'll report back here if she does, should be the next 2 weeks she gets her offer.
It was Scott Smith and the I&I leadership that F’d up the whole thing! The results would have been the same no matter who was at the top!
Nah mark alles sold us down the river and then botched the deal itself and has to settle for the CVR instead of more cash. Total failure, but he’s got his $$$$
Having worked at Celgene from 2011 to 2018., the rot started with Bob. They are all complicit. They thought they were untouchable with their riskier deals. Revelimid was finding the cash, Bob f****D OFF TO BECOME A (SLEASY) politician,. They were economical with the truth to stake holders, hence they got the battering. A Harvard topic for the future.
Please don’t pretend to be an expert! Your short tenure was MUCH later in the history of Celgene. Also for someone with all the answers you should know how to spell Revlimid!
So my coworker got her offer. Despite the verbiage in the severance agreement HR says they haven't received any sort of information related to if equity is actually off the table. So it's not a no for sure but kind of a wait and see type deal.
Well a new branding logo being rolled out and purposefully has no mention of Celgene. It’s over folks! Equity?.... you’ve got to be dreamin’!!
Not only is equity over, don’t expect much in the way of annual pay increases for the next few years. All the information out there indicates the average Celgene salary is much higher than equivalent level salary at BMS. I could live with both of those facts if I felt like I was going to be working for a company that honored the culture and values of Celgene, that acknowledged everything our talent and way of working brought to the table. But everything I’ve seen so far tells me that’s not the case. They decided their way is better and don’t seem to care (or don’t have the competency to understand) how their ways of working simply aren’t compatible with business continuity for Celgene development programs. For some functions I have no doubt that six or 12 months from now everything is going to be an absolute mess, and by then they will either have laid off or lost all of the people that could have competently helped fix it. These are facts I’ve come to accept, but It’s profoundly frustrating to watch unfold before my eyes and know I’m helpless to do a thing about it.
There is no way to merge the two cultures. Celgene was agile and decisions were driven down. BMS has too many silos to count and they are a top down organization that is bloated beyond belief. Each person does one tiny job and has no idea what the person in the next cube is doing nor do they care. This will be one of the 80% of mergers that fail. Celgene was a fantastic place to work but all good things must come to an end.
Very similar to what's happening with the I&I people who got sold to Amgen. Despite their expectations, the salary harmonization team has realized that the Celgene people actually make more in base than their Amgen counterparts. They make 3x more in incentive. They produce more sales per worker than Amgen. Yet Amgen was the acquirer and they are convinced their way is better. They have hundreds of functional silos where no one knows or cares about what's going on in other silos. They spent incredible amounts of time conducting meetings to review past meetings and plan future meetings. Celgene was unique.
I've heard rumors from H.R. at one of their celgene sites that there has been no guidelines to if equity is gone or not. It's kind of a wait and see thing.
