So what exactly is the PXL agreement that was reached? Several hundred dumped from GSK and shifted to PXL without say or severance packages? Are they to be an in-house CRO or is this something new for PXL where they try to act like an FSP such as an RPS, PRA, InVentiv or Randstad?
RTP clinical operations moving to parexcel yes... up to 450 per http://wraltechwire.com/hundreds-of-gsk-workers-could-end-up-at-new-rtp-employer/14241713/ preferred status CRO, i.e., you have one choice (nothing new)
To be revealed later, I guess. "A spokesperson for Parexel declined comment. '[W]e are unable to talk about that at this time,' the spokesperson said in response to a query from WRAL TechWire about the agreement. " Merry Christmas to you, too! Another sleeper here is the plan to offer jobs to people in Philadelphia. Glaxo did a lot of hiring 20-25 years ago, and very very few of those want to move to PA. So, this thing is much bigger than the 900 advertised.
this arrangement is just a variation of the 'stay bonus' tactic obviously GSK is simply funding this for 1-2 years to allow completing on-going clinical studies. people will be terminated from parexel as the studies they support wind down
This is such a sham. The Parexel deal is just a way to do layoffs without having to pay severance. The stated reason here is because they care about staff, but if they really cared about the employees they would offer an option to take a package.
DC strikes again. Really a brilliant way to down-size without having to lay-off. You don't pay severance, you get to say that you didn't lay-off 500 people, you don't pay benefits, 401k, etc, while still getting the labor. As studies wind down, you have a contractor lay-off the former employees. Meanwhile the former employees get less benefits and severance because they haven't been with the contractor as long as they were with GSK.
Looking on glassdoor Paraxel pay OK but no bonus or stock. So a grade 6 for instance will lose $40K or more even if their pay stays the same. Not a shock since the CRO has to make a profit somehow. I can understand the cynicism about this being for a year or two. It may be but Verona went through this 4 years ago when they all went to Aptuit and the majority of he 400 plus employees affected by that are still there.
It is a long term career killer for anyone in R&D. To go from pharma back to CRO. You usually start at a large university or Hospital and then go to a CRO before you hit up Pharma. To go back to a CRO in a non-director level job, it will be seen as a large set-back. No one has the attention span nor memory to remember that GSK forced hundreds to PXL. Heck, most hiring managers can even remember we had a near economic collapse in 2008/2009 when they look at people's resumes and see gaps. No joke. How are hiring managers at other companies going to remember that GSK put the screws to several hundred employees?
GSK employees will also take a 401k hit when they go to Parexcel because the match is capped at only $3k per year (3% match up to $3k max). The Company contributions are vested at 20% per year with full vesting at the completion of 5 years of service. Another issue is vacation time lost - Parexcel standard policy allows three weeks in 1st-7th years plus 4 floating holidays. No pension plan. This information out of Parexcel 2015 benefit summary.
We were told our years of service would port over when asked about vacation time. Any idea on the total number of holidays? Please tell me floating days are not it
PXL has 7 holidays, New Years, Memorial Day, July 4, Labor Day, Thanksgiving and the day after, and Christmas.
DC has nothing do with with ANY R&D decision. You seem to be looking for any and all reasons to make posts about DC. In the end, you come off as an angry stalker.
