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  #1  
Old 10-02-2011, 10:16 PM
Anonymous
 
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Default What's going on at PharmaNet...?

Any PharmaNet employees out there? What is the environment like since being acquired by inVentiv? There are just handful of job openings posted on the company's website - is there a RIF planned..?
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  #2  
Old 10-05-2011, 07:55 PM
Anonymous
 
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Default Re: What's going on at PharmaNet...?

I am an i3 employee, and we are working side by side with Pharmanet employees now that we both have been acquired by InVentiv. Besides an upper level management shift (Org-chart revision)... its been business as usual. There are a few Multimillion dollar proposals that I am aware of being pursued and defended now, and who knows how many more are on the table..so Id say, business is doing ok for Pharmanet - i3.
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  #3  
Old 01-12-2012, 09:21 AM
Anonymous
 
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Default Re: What's going on at PharmaNet...?

PharmaNet executive management took over and everyone lost PTO days plus there are layoffs. the former inventiv and i3 employees aren't happy.
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  #4  
Old 01-19-2012, 11:01 PM
Anonymous
 
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Default Re: What's going on at PharmaNet...?

Inventiv Executive Managagement discovered they overpaid for a bankrupt company, not once but twice with i3 and PharmaNet. They decided to take it out on low level employees and RIF them and let the fat cats that ruined PharmaNet stay in place. They shouild have fired their M&A staff instead.
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  #5  
Old 02-03-2012, 10:40 AM
Anonymous
 
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Default Re: What's going on at PharmaNet...?

i3 was acquired prior to PharmaNet, so they took control of a lot of processes and people. Morale at PharmaNet was terrible after several rounds of layoffs, my last day was 1/13. One PharmaNet employee was told "we bought the company, not the people".
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  #6  
Old 02-07-2012, 08:04 AM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

Quote:
Originally Posted by Anonymous View Post
One PharmaNet employee was told "we bought the company, not the people".
Lol...wow, that's just asinine.
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  #7  
Old 02-07-2012, 09:12 AM
Anonymous
 
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Default Re: What's going on at PharmaNet...?

Quote:
Originally Posted by Anonymous View Post
i3 was acquired prior to PharmaNet, so they took control of a lot of processes and people. Morale at PharmaNet was terrible after several rounds of layoffs, my last day was 1/13. One PharmaNet employee was told "we bought the company, not the people".
But Romney told us that corporations ARE people
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  #8  
Old 02-07-2012, 12:46 PM
Anonymous
 
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Default Re: What's going on at PharmaNet...?

Their senior management are useless especially Reekie. He is one clueless dude.
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  #9  
Old 02-07-2012, 04:18 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

Who is Reekie? And where did Bilasky land in all of this? It's all PharmaNet people running the show now, isn't it? Any i3 people left besides Dearhamer? Recruiters must be having a field day.
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  #10  
Old 03-11-2012, 04:37 PM
Anonymous
 
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Default Re: What's going on at PharmaNet...?

Quote:
Originally Posted by Anonymous View Post
Who is Reekie? And where did Bilasky land in all of this? It's all PharmaNet people running the show now, isn't it? Any i3 people left besides Dearhamer? Recruiters must be having a field day.
pharmanet has been hit hard with layoffs and good people leaving. we feel as those i3 has been running the show.
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  #11  
Old 03-19-2012, 10:38 AM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

Quote:
Originally Posted by Anonymous View Post
pharmanet has been hit hard with layoffs and good people leaving. we feel as those i3 has been running the show.
Oh, please. It is all PNet leadership now, with very few exceptions. I3 doesn't exist any more and it sure as heck isn't running the show.
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  #12  
Old 03-22-2012, 05:37 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

Quote:
Originally Posted by Anonymous View Post
the former inventiv and i3 employees aren't happy.
I think ALL employees aren't happy. We've all lost PTO, and we all feel very insecure. No one that I know is happy with what the current leadership (and I use the term loosely) is doing, and I know that many of my co-workers are actively looking for other jobs.

This really isn't a Pharmanet vs. i3 vs. inVentiv Clinical Services thing... It's a 99% vs. 1% thing!

And despite the 'laser focus on retention,' I'm sure recruiters ARE having a field day... and we should all be talking to them, to try and get out before they drive off enough clients to kill the company.
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  #13  
Old 03-22-2012, 10:13 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

The laser focus on rentention at PN-i3 is too little and too late. Everybody is just waiting until bonuses are paid out and then it's going to be a free-for-all to.see who can get out the fastest. Should be any day in the next week
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  #14  
Old 03-23-2012, 04:53 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

I hope they do give bonuses. It sounds like they might not. I better start looking, because I don't want to have to take on everyone's workload when everyone else leaves. To the 4:37 poster: i3 isn't running ANYTHING. Pharmanet employees are telling other employees that everything is being done the pharmanet way and it sure seems like that's true. If this company had any smart they'd fire McMullen immediately and bring in someone with no affiliation to any of the legacy companies.
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  #15  
Old 03-23-2012, 09:58 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

Quote:
Originally Posted by Anonymous View Post
i3 isn't running ANYTHING. Pharmanet employees are telling other employees that everything is being done the pharmanet way and it sure seems like that's true. If this company had any smart they'd fire McMullen immediately and bring in someone with no affiliation to any of the legacy companies.
I'm a legacy Pharmanet employee, and I agree that most things are being done "the Pharmanet way," which is a pretty crappy way to do things.

Believe me, the legacy Pharmanet employees are no happier with the way things are being done than the legacy i3 employees and the legacy inVentiv Clinical Services employees are. As the 5:37 p.m. poster said, we're ALL unhappy, and we're all getting screwed (especially if they don't give bonuses or raises this year).

I don't know who's ultimately calling the shots--McMullen? Ivers, the inVentiv executive who was brought in between McMullen and his former direct reports? A combination of Liberty Lane Partners, Thomas H. Lee Partners, and members of the inVentiv Health management team (inVentiv's owners)?

Whoever is calling the shots, they are either intent on destroying the company, or they are accidentally destroying the company. But if they don't make some changes soon, they're going to be left with only the employees who cannot find other jobs.
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  #16  
Old 04-02-2012, 08:52 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

I can assure you senior management did not take a hit on PTO days or any benefits. They will get their outrageous bonuses and salary for running the company into the ground. PharmaNet used to be a really great place to work - it was exciting. When Mc Mullen and crew took over, it has gone down ever since..sold to the highest bidder 3 times now as long as senior mgmt got their payout. Too bad.
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  #17  
Old 04-03-2012, 12:40 PM
Anonymous
 
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Default Re: What's going on at PharmaNet...?

Quote:
Originally Posted by Anonymous View Post
I can assure you senior management did not take a hit on PTO days or any benefits. They will get their outrageous bonuses and salary for running the company into the ground.
I don't think anyone assumes that upper management is sharing the pain.

That's not the kind of company this used to be--there was one year when Pharmanet management actually gave up bonuses in order to hand out small bonuses to the line employees. But now it's the kind of company where senior management doesn't seem to give a darn about anything except their own perks and power.

They don't seem to realize that eventually, once they drive off enough employees and drive away enough clients, they are going to lose their jobs, too.
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  #18  
Old 04-03-2012, 08:21 PM
Anonymous
 
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Default Re: What's going on at PharmaNet...?

Quote:
Originally Posted by Anonymous View Post
They don't seem to realize that eventually, once they drive off enough employees and drive away enough clients, they are going to lose their jobs, too.
That's right and when they replace McMullen I will laugh for weeks. The Inventiv CEO was sacked when TH Lee bought the company, and they sacked Glenn Bilawsky too.
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  #19  
Old 04-03-2012, 10:18 PM
Anonymous
 
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Default Re: What's going on at PharmaNet...?

They just bought Kforce CRO so I assume more layoffs will happen.
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  #20  
Old 04-12-2012, 09:21 AM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

Quote:
Originally Posted by Anonymous View Post
They just bought Kforce CRO so I assume more layoffs will happen.
Kforce is aligned with FSP not clinical. That acquisition won't result in layoffs. Honestly, there aren't that many people left to layoff - I don't think that's a concern right now.
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  #21  
Old 04-20-2012, 08:13 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

I think the strategy is to buy up more small companies and the spin off the loss by selling. All i know is that i have never worked for a company that is so screwed up in my life. It's literally like watching a train wreck every day. Don't worry - prospective clients are turning down bids because they know that they know the integration is not going well. I certainly would not risk putting my contract with this company.
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  #22  
Old 04-20-2012, 08:16 PM
Anonymous
 
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Default FSP

What's it like in the FSP division? Everybody acts like you all walknon water over there.
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  #23  
Old 04-22-2012, 10:03 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

I think this company is giving me depression. I'm sick to my stomach about having to work there tomorrow.
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  #24  
Old 04-27-2012, 05:48 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

We still can't figure out management's overall strategy (or even if they have one at this point). But they are obviously having trouble hiring and retaining employees.

For a limited time, they have doubled the referral bonus to employees who recommend a friend for CRA and biostats positions. And today they gave us back two of the paid time off days that they took away back in December... so now we have all lost FEWER days than before, but we still have less paid time off.

I don't think this is going to stem the tide of employees leaving, or get new employees to consider working at such a crappy place...
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  #25  
Old 04-28-2012, 03:12 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

It has Meister written all over it. And I'm sure his partner is close by in the background.

Quote:
Originally Posted by Anonymous View Post
I'm a legacy Pharmanet employee, and I agree that most things are being done "the Pharmanet way," which is a pretty crappy way to do things.

Believe me, the legacy Pharmanet employees are no happier with the way things are being done than the legacy i3 employees and the legacy inVentiv Clinical Services employees are. As the 5:37 p.m. poster said, we're ALL unhappy, and we're all getting screwed (especially if they don't give bonuses or raises this year).

I don't know who's ultimately calling the shots--McMullen? Ivers, the inVentiv executive who was brought in between McMullen and his former direct reports? A combination of Liberty Lane Partners, Thomas H. Lee Partners, and members of the inVentiv Health management team (inVentiv's owners)?

Whoever is calling the shots, they are either intent on destroying the company, or they are accidentally destroying the company. But if they don't make some changes soon, they're going to be left with only the employees who cannot find other jobs.
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  #26  
Old 04-28-2012, 03:16 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

Quote:
Originally Posted by Anonymous View Post
I think this company is giving me depression. I'm sick to my stomach about having to work there tomorrow.
Ditto. I've become a professional patient since the lordly inVentiv raided the companies.
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  #27  
Old 04-28-2012, 03:31 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

Guess inVentiv and 'team' (aka Meister) have not heard the phrase "too little, too late..."

Woohoo, they GAVE employees 2 new floating holidays on April 27. NOW employees have only lost lost 4 (more for others) paid days off per year! Did management fall over all the people on their knees thanking them for their graciousness?

Next thing you know our shitty medical plan will become only semi-shitty! Interesting the unique restrictions this medical plan has that no other United Healthcare plans seem to have. Prescription medications, equipment/DME that is not covered under inVentiv's particular UHC medical plan. While, for the record, United Healthcare is no longer associated with parent or any of it's ever-growing offspring, something's smelling a little fishy around here.

gone fishin' .....
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  #28  
Old 05-01-2012, 06:19 AM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

I still lost over a week of leave even with them giving back two days. It's not enough to keep me working there. They should be a textbook case study for how not to run a business.
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  #29  
Old 05-14-2012, 02:06 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

It makes no sense to have three staffing companies in the Inventiv portfolio, until you realize they are owned by private equity....look at the profit JLL made on Pharmanet....3 times money...T>Lee is just setting up for sale. They buy kforce which was stated publically at approx 80+M revenues for 50M...much below market except when you look under the covers and realize their trajectory was going steadily down and mother Kforce needed to eject them. They call them an FSP provider, and a CRO...which they are neither, and coming off the Pfizer mess, and layoffs they didn't have an upside. So now you have Pharmanet (a troubled CRO over the past few years), INVENTIV clinical (a name without a face), Med Focus and SmithHanley ...two decreasing staffing firms competing with each other and now Kforce. Putting it all together, you get leverage by decreasing SG&A (layoffs and reductions), and a sale if you can flatten out revenues...a big if. Lilly, Pfizer, Merck,Sanofi, BMS, Novartis, Amgen, J&J and AZ have already picked their providers and I didn't see Inventivs, Kforce or Pharmanets name on any list. Doesn't look good.
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  #30  
Old 05-19-2012, 06:36 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet

Quote:
Originally Posted by Anonymous View Post
look at the profit JLL made on Pharmanet....3 times money...T>Lee is just setting up for sale.
Not sure who/what inVentiv could sell Pharmanet or the combined staffing organizations to... We've all heard that JLL had to falsify financials (er, "mislead inVentiv about Pharmanet's financial position") in order to unload Pharmanet on unsuspecting inVentiv. I'm not convinced that inVentiv will find another sucker willing to buy such distressed goods...
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  #31  
Old 05-20-2012, 01:16 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

Quote:
Originally Posted by Anonymous View Post
...i have never worked for a company that is so screwed up in my life. It's literally like watching a train wreck every day.
I've never seen such mismanagement (and non-management) in my career either. It would be comical if it wasn't screwing up the lives and careers of so many employees!
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  #32  
Old 06-11-2012, 06:43 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

[quote=Anonymous;4303006]I'm a legacy Pharmanet employee, and I agree that most things are being done "the Pharmanet way," which is a pretty crappy way to do things.

I don't know who's ultimately calling the shots--McMullen?

McMullen is the guy who forgot to pay down $163 million in loans to the point they had to sell the company - giving the mantra to employees, "we took the company private" when in fact they had to sell so McMullen could collect on his $2,000,000 in pay that year. It's a horribly run company with questionable ethics!! I hope that guy gets what is coming to him - along with some others - particularly in the business development space that set up teams for failure and destroy relationships with clients who are good people. Greedy bastards!!
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  #33  
Old 06-24-2012, 11:13 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

Quote:
Originally Posted by Anonymous View Post
It makes no sense to have three staffing companies in the Inventiv portfolio, until you realize they are owned by private equity....look at the profit JLL made on Pharmanet....3 times money...T>Lee is just setting up for sale. They buy kforce which was stated publically at approx 80+M revenues for 50M...much below market except when you look under the covers and realize their trajectory was going steadily down and mother Kforce needed to eject them. They call them an FSP provider, and a CRO...which they are neither, and coming off the Pfizer mess, and layoffs they didn't have an upside. So now you have Pharmanet (a troubled CRO over the past few years), INVENTIV clinical (a name without a face), Med Focus and SmithHanley ...two decreasing staffing firms competing with each other and now Kforce. Putting it all together, you get leverage by decreasing SG&A (layoffs and reductions), and a sale if you can flatten out revenues...a big if. Lilly, Pfizer, Merck,Sanofi, BMS, Novartis, Amgen, J&J and AZ have already picked their providers and I didn't see Inventivs, Kforce or Pharmanets name on any list. Doesn't look good.
The only way they will be able to keep the doors open is cut the employees who are duplicating jobs. They have a lot with 3 staffing companies, FSPs and a former CRO on its last breath. Rumor has it layoffs will start in July, and then in or by 2013 comp changes and a new structure, if not sooner. The big disappointment was buying kforce CRO/FSP want to be. They are just as misleading as the rest of Inventiv. Kforce has no future business to sustain the people that they are going to have to be let go from the Pfizer FSP and neither does I3. No Secret, Everyone knows Kforce was saved by the buy. It appears that the inventiv group is a big pool of troubled companies. Who is calling the shots here and running the business? Homer Simpson? Who will want to do business with a company with a reputation like this? TROUBLE.
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  #34  
Old 08-12-2012, 08:32 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

No layoffs in July, but every week more people leave on their own, so the headcount keeps going down without layoffs.

It's like a ghost town in parts of the Princeton office... Everyone I know there is job-hunting.

My advice to any prospective hires: "Run while you still can!"
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  #35  
Old 08-17-2012, 12:27 AM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

They did have lay-offs in July. It was kept quiet, some operations/back office. Some FSP leadership members, and former i3. That was the 1st round. The staffing side will be sold off, and the remaining will become corporate recruiters. My recruiter cant tell me whats going on. All the signs point to 2nd round by end of year. The million dollar question is..What and who are we? CRO, FSP, STAFFING. If our leadership can't tell us, or explain, how do we expect the end user to know who we are and what we do? Our name is so confusing. Someone needs to get it together. Our name is a joke in the industry, at sites. It is embarrassing when someone asks who we are and nobody can provide the same answer. It just depends on who you ask. The question is, if you ask any employee if they would invest their own money in this business, would they? I would say 90% would say, No, the other 10% is the management who are hanging around getting a paycheck. The resignations continue, work is being dumped on us that are still here.
Just waiting for a better opportunity.
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  #36  
Old 08-22-2012, 02:21 AM
Anonymous
 
Posts: n/a
Smile Re: What's going on at PharmaNet...?

Not one good thing that is for sure! Management is fat and happy while the people working are miserable. Vendors aren't getting paid, employees continue to struggle to get the work done, and Miester puts out a stupid video about how PharmaNet i3 is one big happy family. He must be at a different family reunion.


Let us walk around the dungeons of PharmaNet and pretend we are onboard until we can jump from this sinking ship!
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  #37  
Old 08-28-2012, 07:24 PM
Anonymous
 
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Default Re: What's going on at PharmaNet...?

Quote:
Originally Posted by Anonymous View Post
. ...Miester puts out a stupid video...
Watch the video. The man never shows ANY emotion at all--he's the very definition of "flat affect." There are only two places where he breaks into a half-smile, and one of them is when he repeats his phone number. At that point you can tell that he's embarrassed to be reciting from the script his P.R. people gave him...

He's asking people for their ideas that will make Pharmanet/i3 "great," but upper management does not like the suggestions they get, because all of the suggestions involve (GASP!) spending money! I've heard that people responded by suggesting the company spend money on technology that will allow us to do our jobs well, and spend money to hire employees (not short-term contractors) so there's enough trained staff to do the work...

It's as if they will ask for ideas until they get one they like (meaning one that involves cost-cutting), and then they can say the suggestion came from the rank and file.

Meanwhile, anyone who can find another job is leaving...
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  #38  
Old 09-21-2012, 06:40 PM
Anonymous
 
Posts: n/a
Banghead Re: What's going on at PharmaNet...?

i hate my job and i hate pharmanet and inventiv
never seen such a ill-run company before in my life
if you're a manager, you need 8 levels of approval from managers above you to make a decision on something so insignificant in scope of things. yes, there are that many levels of management............................
an inefficient company. clients leaving, consultants leaving, good coworkers leaving....its THAT bad and i dont blame them one bit
cant wait until i can say good riddance
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  #39  
Old 09-21-2012, 07:30 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

It is INSANE! I can't wait to get out. Rumor is that the next set of Layoffs is October 31! They still don't have everyone in place. Management and recruiters lie straight to your face (I have caught many of them). One of my co-workers just got a call on Tuesday and due to RIF, he was laid off effective that day. Supposedly, he's getting a severance package but no one will call him back and he still doesn't have the paperwork.
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  #40  
Old 09-30-2012, 04:56 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

A number of people who were laid off from Pharmanet/i3 during 2012 have recently received emails from recruiters asking if they are interested in working there... So far, none of the people I've talked to are at all interested in going back. Most of them have found other jobs and are much happier at their new jobs.

I heard that one CURRENT employee got an email from a recruiter (at the inVentiv division that used to be called Smith-Hanley) about a contract job at Pharmanet-i3. It went to her @pharmanet-i3 email address!

Meanwhile, employees are finding other jobs and leaving...
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  #41  
Old 09-30-2012, 05:02 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

Sometime in the past couple of weeks, they walked into a legacy i3 office and told everyone to go home because they were closing the office down (Hunt Valley, MD).
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  #42  
Old 10-17-2012, 11:10 PM
Anonymous
 
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Party Re: What's going on at PharmaNet...?

Pharmanet still has orientation every two weeks people. They just hired around 40 people so the company is thriving. Its the medical that concerns me.
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  #43  
Old 10-18-2012, 09:41 PM
Anonymous
 
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Default Re: What's going on at PharmaNet...?

I think that is what people are bitching about, the medical division.
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  #44  
Old 10-24-2012, 08:24 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

Pharmanet/i3's parent company, inVentiv Health, just outsourced all IT infrastructure positions across all inVentiv companies, including all the people who maintain phones and servers...
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  #45  
Old 10-28-2012, 04:08 PM
Anonymous
 
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Default Re: What's going on at PharmaNet...?

wow, who are they outsourcing to? I assume this is another cost-cutting strategy; reduce head count and the associated carrying costs, blah blah.
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  #46  
Old 12-04-2012, 10:01 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

Pharmanet is scrambling to find mostly data programmers and statisticians. They treat their employees like a number (and like crap) and are laying off more as we speak! Rumor has it (from an extremely reliable source) that there will be more layoffs in January (not including the ones this week!) Inventiv gobbled up a bunch of smaller companies in order to call themselves a CRO providing full services globally. However, they have far too many chiefs and not nearly enough indians. The chiefs obviously aren't speaking the same language because they all seem to have their own agendas and none seem to be the same agenda. They are constantly "restructuring" their org plan and put people into a position then move them around. One person I know went through 6 managers in 3 months time. If they are ever able to compete with stable, established CROs (which seems to be extremely unlikely at this point), it will not be any time soon and NO ONE who is working there feels safe in their positions.
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  #47  
Old 12-09-2012, 08:04 PM
Anonymous
 
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Default Re: What's going on at PharmaNet...?

Which groups are rumored to have layoffs coming?
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  #48  
Old 01-02-2013, 01:53 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

Any news if Pharmanet is moving to Somerset, NJ?
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  #49  
Old 01-12-2013, 05:46 PM
Anonymous
 
Posts: n/a
Default Re: What's going on at PharmaNet...?

I'm a former Pharmanet/i3 employee, and just heard that Dalvir Gill, who was president of phase II - IV development, has left! LinkedIn shows him as Chief Executive Officer at TransCelerate Biopharma Inc. in Philadelphia.

I guess his laser-focus on employee retention (in one of last year's "all hands conference calls") didn't involve staying there!

Can't blame him, what with the way inVentiv is handling the company...
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  #50  
Old 01-12-2013, 08:23 PM
Anonymous
 
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Default Re: What's going on at PharmaNet...?

Quote:
Originally Posted by Anonymous View Post
wow, who are they outsourcing to?
I believe they outsourced to HCL Technologies, which has a lot of people at Merck...
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