severance

Amen sister(or brother)!!! Wherever Kathy Kobe is, I don't want to be! Shire should step up and let some of us opt out pre-merger, under the current plan. At least some jobs may be spared for some of the poor people who want to hang on to this job.

 

Most of the sales force will walk if these two are retained and many are now looking after what they saw at this last round of poa's. With Fleming staying on as Rare Disease head you can bet these two will be around longer. Get ready for a mass exodus once this deal is done and then they can bring over all their minions from Bausch n Lomb. Good luck Abbvie launching a new psych indication with eye drop reps.

 

I totally agree with you but you're assuming they care about the "field force" - it's obvious they don't.

 

Great we will have 6 months to train our replacement and get abbvie up to speed before we are told to pack up and get out. Fantastic news thanks for the update Flemming!

 

At least they told us something. Maybe they will look out for us after all and offer up a severance along with change of control payment before the merger goes through. I think the reason it was even mentioned in the announcement is so that they can come back and "do the right thing". Have a little faith people. Morale is everything with a merger. They want to go into this feeling positive as we go into a new launch. Demoralizing the sale force is not the way to do it.

 

Yeah and maybe they will purchase us all puppy dog too...

 

There are always trade offs in a negotiations. Fleming won what he wanted with 30 sr execs protected for quite a decent severance and as a result he could not negotiate for the greater population. Only think I can say is hopefully Abbie thinks there won't be much job loss and they start thinking retention. It may start to be a one-way exodus and then what exactly did Abbie pay for? I am sickened by all this--- viro pharm employees walked away with quite a lot of cash, and get to keep VP severance for close to a year. Don't forget that options aren't fully vesting either. VP got full beating as did Wyeth when Pfizer bought them and others. All in all, this is a CRAPPY deal for employees.

 

According to every news report AbbVie was chasing Shire. It seems pretty clear that if FO wanted to take care of the employees he could have. He and the Board simply didn't. Face it- they need us happy and hopeful for back to school numbers so the stock stays high until the deal closes. Then they have to cut back to make the deal work. We are simply toast. There are 30 execs who made out.

 

You are all on the cutting block. Some of you will be kept, others will go. It is a chance for the company to weed out from both companies. Good luck

 

And you know this how? Give us some insight if you know something!

 

Doesn't matter, it's business as usual.

 

The deal stinks for everyone except our fearless leader and his 30 hand-picked "friends". We've already been told that bonuses in-house are all going to be at the same rate - no real performance reviews this year. So tell me something...why should we even bother to bust our butts for these protected leaders who get their retention bonuses while we lose change of control and the Shire severance?

 

You have a point there!Why should we push through customer objections, etc. Drop coupons and samples, and get the heck out.

 

We shouldn't.

 

Folks the holidays will be here so fast your head will spin. GET TO WORK NOW!!! Many attorneys will advise you for free, knowing they can get a portion of any additional severance money they negotiate or settlements. Think about how much Abbvie paid and what they got, a company with one solid product that is 6 plus years after launch! I bet you they ax both Sales forces and use a contracted Sales force. They don't care about you, in fact I think PS takes a sick pleasure in destroying lives. Start looking now, it is a timely process. After the layoffs there will be many more people looking for jobs, pharma does layoffs Nov. - Jan., also a time when Pharma and Biotech companies aren't hiring. God Bless

 

This post is 100% correct. Don't sit with your head in the sand. Bank all vacation days, book all your doctors appointments, change your prescriptions to 3 month RX and fill them in advance and most of all save all your bonus checks. Make sure to have a good 6 months of living expenses saved because it may take you that long to find other employment. No one will be hiring around the holidays and it won't pick back up until middle to end of first quarter. Look out for your family because Shire will not.

 

Neither will AbbVie. Enjoy!

 

Why is Abbvie laying off and Shire expanding? It seems like they would save the expansion spots for Abbvie folks that get laid off? Is if safe to assume they will not allow us to opt out and take severance before the merger? I have over ten years with Shire and would stand to make more money under Shires plan than I will under Abbvies when they lay us off 6 months later.

 

They're getting rid of AbbVie folks who have been there for quite some time. It's cheaper for them. Then they will keep you on for a few months and get rid of you using their severance package which is cheaper than Shire's. It's all about money, not loyalty. You want loyalty, get a dog.
Now you understand how AbbVie works. Enjoy