So it finally happened - Cook actually let some people go! Sad but not surprised the way things have been going. 500 people were axed...if you were one of the unlucky ones - what division, location, and role were you in? I'll go first - Admin in IN at HQ.
According to my sources, it seems that a few conference calls held yesterday didn't turn out well for some specialties. It appears that some sales managers were quite harsh on their DMs in the region, instead of empathetically addressing the company's financial situation. This misguided approach may push many representatives to seek alternate job opportunities within the industry when hiring resumes in the future.
The company's financial situation... Is Cook in trouble financially? And yes - that will certainly influence people to look elsewhere.
They have cut costs and now they have done layoffs without much innovation in new products. I’d say Cook is behind their financial goals significantly or else they would not have cut 500 jobs. Maybe they should look at RMs with consistent turnover in their region. Training etc costs a ton.
Cook is dead in the water. These cuts are just the tip of the iceburg with more scheduled in 3-4 months if the company is not sold by then. Instead of offering early retirement as they did with COVID they've clipped people who have been with the company for 30-40 years. It's a sad state of affairs and the company made a terrible mistake by thinking the same executives that drove the company into poverty would take the company out of poverty. Once Bill Cook passed away Cook Medical, as a company, went on life support and the plug will have to be pulled at some point in the near future. I did see Marcy Cook made a few bold statements such as the owners "hadn't taken a salary" since COVID. The owners are the riches family in Indiana and worth around $6B. Their salary is the least of their concerns and they could easily liquidate any of Carl's pet projects (i.e. the Cook Myosite catastrophe) instead of firing good people.
What about those bipolar electrodes, though!? I figure we pitch those to a few bigger IDN's and * Voila * - the financial woes are over!
Pete and Mark have to be the two dumbest donkey's in the shed. They are driving the business into the ground. Well, I shouldn't say driving into the ground, as that indicates that they actually have a hand on the wheel, which they don't. Pete should announce his candidacy for whatever government job he is angling for and Mark should go back to his Lake house and think about how he should have never been more than a rep. He has always been wildly incompetent and managing the business. Let alone the other clownshows that are "running" the business- Nicky, DJ and for us (I was in vascular) the goof Terrance. Bill undoubtedly doing cartwheels in his grave as he watches his company slowly bleed out in a long slow and painful death. #findcookred
