To all Chesterbrook Colleagues

LMAO. Harvard couldn't make that guy any smarter.

 

to name a few:

-make Shire more financially attractive to potential suitors by "relocating" (aka laying off) employees and saving 25M/yr.

-These layoffs will increase profit margin, driving stock higher, thereby increasing the price of a buyout.

-One less major "hub" would make it easier to integrate Shire with an acquirer

Despite what ExCo has communicated, this will be happening to other sites and remote offices. Any remaining CB roles will eventually eliminated through outsourcing and/or attrition. Even if you are not currently impacted, use this opportunity to search for a new job while Shire pays you. If you wait around until Shire is bought, youll end up on the trash heap without any meaningful severance....just like we were with AbbVie.

Hows that updated change of control policy coming GG? haha

 

It's a response, agreeing withe assertion that no one wants to work for shire in MA. Everyone knows a sale is looming or at least the constant threat of one.

 

it is basically an open secret that there is little faith inside the company that ExCO has a clue how to actually enhance value and motivate the troops beyond cutting costs and dangling hopes of better bonuses. It's already taken too long to see a real policy to protect us in the event of a sale. The other posters said it all, Boston isn't making anyone smarter- this is just a pressure cooker now designed to trim the fat and meat to make us easier to buy. What a strategy!

 

The thing is that all of those moves are also just good business. Being efficient is just being a good manager. Of course it's no comfort to those left on the outside, but any company with public investors has had to make difficult decision like this.
Being lean may make Shire attractive to buyers, but it also makes us arrtactive to Wall Street.

 

Thanks for the input Flemming

 

Bullshit! According to Flem when he took over, he said our strategy was to get back to developing and marketing products with unmet needs. I guess that sounds good but cutting costs is more realistic. We're going to save our way out of business.

These guys are so full of shit, their eyes are brown

 

These are just short-term fixes. FO has to talk about new products exactly for the reason you said -at some point you can't keep cutting costs and I bet Wall Street knows it

 

it's also good business to be prudent with acquisitions. If your going to spend shareholder capital on pet projects (ex. opthamology division) you better be darn sure there will be a return. To date those acquisitions have produced squat, and Shire is now trying to push amphetemines to people "suffering" from Binge Eating Disorder to make up for those mistakes. The CB cuts are short term fixes to prop Shire up when the bad news hits.

Personally, I am not impacted by the CB cuts but I can read between the lines. I'm in Lexington, and I know "synergies" are coming to our location as well. When Shire gets bought, they'll turn their backs on us again. Don't be fooled, get out while you can.

 

Really interesting point. I am in Lexington as well and thinking about it, we have squat except Binge Eating coming out soon. I feel bad for the CB folks but agree the axe is coming here soon.