Sept Lay-Offs

Anyone hear anything about the next round of lay offs in Sept. I heard its for Finance, but do not know what area of finance.

 

No.

 

figure it out.

 

Coming soon. Last year at ADC and Vascular the RIF hit around 9/23. I think some were let go in Abbott Park at the same time.

Just sitting here waiting for the package. Screwed way to run a business.

 

I have the package, turn around and grab your ankles...

 

Were they kind and used Vaseline?

 

ADC Sales due to get hit in September as well. Word around Alameda is most of the remaining sales force will be canned, leaving about a dozen internal and field reps to handle contracts and bids.

 

We were just notified today is our last day How wrong this is
69 gone today

 

Which division and department are you refering to for 69?

 

At AV, management has been requesting rankings of each person. Usually when this happens, a RIF occurs. Sales are off about $50m from what we were told, so the place is prime for another RIF.

 

By ranking of each person you mean performance appraisal?. i.e. AE, EE etc?.

 

Yea!! Sounds like BONUS ratings!

 

The RIF monster is coming again. We should outsource management to Saudi Arabia.

 

First week or Last week of September to make sure you are not qualify for your 7% bonus.
Abbott management is super super wise.

 

No not really. It's a special ranking using a 0-5 rating for several categories. You won't see this on a standard review of EE, AE, and PA. One the numbers are put into place on the spreadsheet, a total score will be on the final row. If you are on the bottom with a low rating, there is a good chance you will be parting ways.

 

Way back at the first big Guidant/Abbott layoff (Dec 2005?), they used a similar "system" for laying off the production assemblers. The supervisors graded each person on attendance, performance, attitude, initiative, etc. The only problem was, some of the supervisors had their favorites, so instead of weeding out the under-performers, it KEPT them and got rid of some great assemblers. It's been/gone downhill since then. Now, if you make too much money, been there 20+ years, or if someone doesn't "like" you, you're gone. What a sick corporate "society" at Abbott Vascular now.

 

The grades are then factored against each reps total cost, which includes T&E, salary, benefits, etc. Then your territory's volume is factored in. The end result is each reps "P&L". We are then ranked by this P&L. To make this impartial, no names are used, and each person is assigned a unique number for this. A third party "consultant" does the analysis.

Guess who is going to rank worse? Yep, the older reps with higher salaries and benefits.

 

Any news on the Lay Offs

 

I wonder why you guys still want to work with Abbott Labs. It's like a time bomb that explodes any time. There's no really peace of mind. How long you can handle it ?