5 5 1

Any truth to the 5 5 1 rumor? Will it just be offered to Headquarter People or would the field have the same options? If so any information on It or timing. Thanks

 

What is 551?

 

Cryptic posts suck

Don't waste time without explaining

 

5 5 1 refers to a potential US incentive plan which would add 5 years to your age, 5 years to years of service and 1 year of additional severance. Believe it would be for folks ~50+ age (early retirement etc). Rumor is rampant and as someone who fits that criteria I am praying that it is true. Heard it will be announced in October and gone in December (quick exits). No reason to think it wouldn't apply to field.

 

551 special offer will be offered only to those who are direct relatives of Ken, Willie, Roger and Adam.

 

Chances of a dramatic improvement in the severance package are slim to none.

 

Agreed. Actually heard there will be a reduction in severance plan in 2015.

 

I am 58 sounds too good to be true any other source than rumor about 551?

 

You are all wrong, 551 means you receive 55 minutes severance pay for every 1 year worked. Or could it be for every 55 Mrk CP posts, only 1 is somewhat accurate?

 

What about those of us who missed bridge by inches this August? Some of us had all the requirement but a matter of weeks!

 

Hypothetically, if the playing field is reset, I would "expect" that you would now be covered. The rumors are consistent (same message from many people, but no more details which is concerning). We may have to wait a month to see if it is true or just wishful thinking. Frankly, I haven't heard VRIP rumors for many years, so it sounds like it is at least being discussed. It would fulfill Ken's goals of reducing the opex by 2.5B and also getting to what he sees as a realistic workforce of 50-60K vs 80k today. Who knows - can't hang your hat on rumors, but one can dream.......

 

I would hope we would be covered BUT we are forced to sign the letter before October. Will those who filed a dispute be granted the bridge after they were up against the wall to sign?Either they hold out yet again or we starve. To refuse a bridge to older employees does not seem right anyway you look at it. Older employees have more difficulties in finding jobs. They need the income of the bridge to survive with the current economy and the unemployment period now only 6 months. Let's not forget the inability to buy affordable healthcare --- you must have the bridge for this.

 

You overpaid ole timers are a bunch of weepers. Your severance will only include: diapers, walker, application to Walmart, box of Cialis, glasses and Propecia. You are overpaid and replaceable.

 

Who ever in home office who passed this on please keep us updated thanks for the info if this is a legitimate plan that may be offered.

 

I'll take that, Sonny! Those items are expensive!

 

Undoubtedly there is always plenty of unskilled and inexperienced youngsters such as yourself flooding the job market. Since you still live in your parents basement and are able to work at an entry level salaries, failing companies such as Merck are happy to add you to their ranks as anther placeholder. Enjoy this professional moment as your short and unremarkable career at this company will, at best, last only a few more years. You don't really think that you were hired to resolve the deeply rooted problems of this company do you? You are paid more than you are worth and replaceable. Go get 'em tiger!

 

There was a time when we really were professional representatives, valued consultants on new pharmacological therapies, welcomed by physicians into their offices as a valid source of information. Those were the days when you put your card in the sat down to have a discussion that lasted several minutes. That all came to end in the early nineties. The profession killed by reduced access, information from the internet and managed care accelerated by some marketing genius who subjected customers to the " share of voice." Which is alive and well today.

Today's " rep" is just a few years out of college with a shiny new marketing/business degree. Previous medical experience limited to an hour long annual dentist check up, and sales experience consisting of rush chair of their frat were they organized keggers.
One day they are studying for a fashion design midterm eating ramen noodles out of a pot, the next, they are wearing suits, diving company cars, trying to figure out a computer & expense reports. Forget them knowing med. term, diseases, pharmacology. They cruise around, texting on their cell phones delivering bagels trying to snag signatures from physicians who don't need the samples and desperate to get a couple a seconds from docs who don't want to see them. They paper the medical buildings with invitations for poorly attended speaker programs were they get drunk on free wine and talk off label. They are dispensable, disposable, over paid, under worked but have a strange sense of superiority and entitlement for a job they do badly when they do it all.

Why are they shocked and offended when their employer treats them with distain and lays them off by the thousand? They wreck their cars, divert samples, break HIPPA, speak off label, ignore policy, take part time jobs and use company resources in support of these unethical possible illegal activities, pad and mis- report expenses and whine and complain endlessly. They have poor access, give mis-information about efficacy, side effects, dosing and uses of their drugs. They are hugely expensive to hire, train and maintain, have minuscule, negligible, unmeasurable effect on actual sales. Their expense is extremely high and their ROI is so low it's below ground and most of them openly admit it. Read the pain cream or 15 threads.

Merck is stupid to keep as many reps as it does and there is little sympathy anywhere when they are justifiably kicked to the curb and back to retail sales were they came from. The only mystery is why it takes so long to fire so many who deserve it so much.

 

73K as of June 30, 2014 (but whose counting?) !!!!

 

much better to keep reps who were never "professional reps" vs hanging on to those who actually remember what it is to be professional. Today's rep is a "customer rep" , one step away from the call center!

 

All I wanted was information on the validity of what I heard...If you didn't know what it was, I wouldnt of had all the wise cracks. It could be a great way to get RID of US older people and leave the company in tha hands of younger more enlightened employees like u. It needs to do something to right size...