Well, that went well.......

Discussion in 'Wyeth' started by Anonymous, Aug 21, 2011 at 9:35 AM.

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  1. Anonymous

    Anonymous Guest

    Quick history..

    More than a decade with Wyeth. Kept on after the purchase by Pfizer. Two years under the Pfizer boot and now severed and packaged out under the existing Change of Control Agreement that expires in October. Wyeth actually did a good job of protecting the interests of those who were rolled over through the COC Agreement. Doesn't make much difference to those who were let go and weren't ready to retire, but it seems the company did what it could for those that Pfizer chose to keep.

    Lucky to be packaged as I was warring with retiring anyway.

    Found Pfizer to be a tumultuous place to work. (read the Fortune Magazine, August 15, 2011 article on the culture during Kindler's period as CEO)

    Not many legacy Wyeth people left in the Pfizer sales force, and this last cut thinned the herd.

    The legacy King Pharma employees, much like what happened to we Wyeth folks, were pretty much wiped out last week. Pfizer seems to apply the last in first out inventory management strategy to it's downsizing/reorganization efforts as well.
     

  2. Anonymous

    Anonymous Guest

    I am sorry that you got forced out this week. I was put in a similar situation in the 2008 cut after 20 years with Wyeth. We all know what has happened to our industry. It was a great place to have a career but inept managements in all the pharma companys have created what it is today. Good luck in what ever you choose to do!
     
  3. Anonymous

    Anonymous Guest

    I for one really enjoyed my time at Wyeth. I did well, made myself and my manager alot of money, made alot of friends here and good relationships in the field. Shame we got sold out to the crooks at Pfizer who only took less than 2 years to clean the house again. Hope the pfirezer/Wyeth folks who were behind all of this die slow painful deaths.
     
  4. Anonymous

    Anonymous Guest

    Just curious....when you received severence did you receive PFIZERS package or Wyeths? And what was the payout?
     
  5. Anonymous

    Anonymous Guest

    Wyeth packages for those let go within two years- per the agreement. After that, Pfizer packages for those let go. It was all spelled out in the merger agreement. Interesting tidbit-all/most of the Wyeth people who came over to Pfizer got real nice raises after the first year to make up for the crappy bonuses that Pfizer pays. The agreement stated they had to make the salaries whole...it worked out well for most-that is until most of us got let go in the following few years! Pfizer truly is a piece of crap company. Hard to believe they were held to such high esteem for so long.