RTP to close

RTP to close by Jan 2016. Most cuts will come from there and the few departments will move to Philly. Not major field sales cuts.

 

Any cross-brand/redundant infrastructure, R&D and manufacturing. Welcome to the new world of pharma.

 

This is false.

 

Of course it is. If RTP closes, GSK might as well just quit the US altogether. They own the site in RTP. It's the U.S. HQ.

If anywhere closed, it would be Philly. The cost of operating in RTP is lower.

 

a lot of rumors around R&D in RTP. we will soon find out!

 

Nope. The HQ was quietly shifted from RTP to Philly. The US HQ for GSK is Navy Yard. http://www.gsk.com/en-gb/contact-us/headquarters/

 

Bad, hysterical rumors within the company — generated from a lack of concrete information — and parroted by juveniles trolling this board. Nothing more, nothing less.

This ain't my first rodeo, kiddos.

 

We know...PR board plants are ridden like pack animals.

Oh, and RTP will be shuttered within 18 months.

Enjoy your DeeDee.

 

If RTP were to be closed then GSK would most likely file a WARN notice with the state of North Carolina. As of today no WARN notice posted (www.nccommerce.com/workforce/businesses/warn-information); check it out for yourself,

 

RIP RTP.

 

Genius, spread out over 18 - 24 months, they can stay under the threshold for reporting. Plus, they will phase the announcement per component, again, avoiding reporting thresholds.

 

What triggers these notices under the WARN Act?

Plant Closing: A covered employer must give notice if an employment site will be shut down and the shutdown will result in an employment loss of 50 or more employees during any 30-day period. This does not include employees who have worked less than 6 months in the last 12 months or employees who work an average of less than 20 hours a week for that employer.

Mass Layoff: A covered employer must give notice if there is to be a mass layoff which does not result from a plant closing, but which will result in a loss of employment at the employment site during any 30-day period for 500 or more employees, or for 50-499 employees if they make up at least 33% of the employer’s workforce.

 

It's pushing 8PM here at the RTP and I just heard

 

Yet, elsewhere the site mentions both RTP and Navy Yard as HQs.

Unless someone offered them a fortune for real estate and the company is planning to get rid of more like 70% of the workforce, this seems illogical.

Oncology is all based in Philly. GSK is selling that. Why move a bunch of people to a place with a higher COL? It's illogical.

 

Yeah. RTP has far too many employees to sneak by without filing.

 

I don't understand the WARN Act implications. The Act states that 60 day notice must be given before a site closing, but it would take far more than 60 days to close a major site anyway. So, even if they announced today people would have to take at least 60 days to prepare for such an event.

 

Employees will have 60 days of notice before they begin their severance packages. This is what happened in 2007/2008 and what will happen now. There is no need to file the WARN act before the announcement because of this.

 

Of course you will look like a fool come this Wednesday, crybaby when we see that RTP has not been closed.

 

This can't be true, can it?

 

No, it would have leaked by now. Key people have known the general details for about three weeks. Headcount reduction can stay quiet; closing a massive, company-owned facility impacting ~5k employees and contractors would not have stayed under wraps.

Ignore the fear-mongering.