Parexel is laying of 850. They are calling it a "Margin Acceleration Program" http://www.bizjournals.com/boston/blog/bioflash/2015/06/waltham-based-parexel-mulls-cuts-involving-850.html http://www.outsourcing-pharma.com/Clinical-Development/Parexel-to-lay-off-850-amid-restructuring
Rickenbach stated there were new business wins leading to record back log levels. So of course it makes sense to lay off! I know for a fact there is a severe shortage of certain roles directly involved with client studies. If any of these roles are cut, then Parexel is not changing its footprint, the one that sustains an overloaded work-burden to include unacceptable working hours and weekends for very little to no, thanks. The most tragic operating model is that line managers are too overburdened to be of any support help to their direct reports. They have no time. Yet there they are, somehow doing your performance report twice a year. The employee receives no benefit or support from their line manager only to find themselves being cited for this, that and the other thing, all the while ignoring the effort and sustained unacceptable hours invested into the team.
Hey, that's the Republican business model - overworked and unappreciated employees with huge profits for a few at the top. That's what we'll be voting for again in 2016!
So, do this mean a shift from work out of the Billerica, MA and RTP offices, to Argentina? This will be fun. Work from english speaking professional adults with experience based in the US, to young 19 and 20 year old entitled interns from wealthy families in Argentinia who don't know what they're doing .. but damn, the margins will improve for PXL!
The CRO we outsourced a lot of clinical research studies to. Basically the future of the company, the pipeline, is being handled and developed by this company. Big Pharma does very little in-house anymore.
