you will get the call from your Divisional manager. reps who started through inventiv are first to go. I'm talking every single one. Next will be 75% of direct hires. specialty reps will get their notice shortly after.
Good Luck to the idiot that's sitting at home; you deserve what you get "reap what you sow" i'm busting my ass because I have only one chance to show new management what I can do. Thanks for making my job that much easier (top performer anyway and would prefer to see bottom feeders like you go)
Many of us want severance packages you know. Not all of us are in a place where this job is the best thing in the world, and if that's you, I'm sorry, but a lot of us saw this coming and have exit plans and are just waiting for our package. Good luck to you, but I sure as fuck am getting out of pharma.
Here for well over 11 years. I am with you. I liked this job but so much has changed. It's empty. You want 10 calls? I can get you your 10 call average. They aren't all good calls at all. That is just the tip of the iceberg. Been through multiple managers (from ABD on down) and counterparts. Numbers are pretty good actually, just overall sick of all the lies we have to tell. I am also hoping for a package. If not, I am getting out unless something miraculously changes. This has become a joke.
Ok, respect the decision. Can you also not judge people who do still like the job and are happy. If you are not fine, I get it, but all people are different; and all you "pharma" is dead people really suck the life out of the rest of us. You are energy suckers. Go do your thing, we will do ours and then life moves on..
It's "OUR" not are you moron plus all inventiv + 75% of direct hires does not equal 75%! Keep posting and they are sure to fire 100%
don't hold your breath on the package. Speak to anyone who has been laid off from pharma, I'm talking real major pharma not wannabe like FRX. you will get a jack.
True- all of these people waiting for the wonderful package are in for a very rude awakening. First, I'm a little ways up the ladder and have doubts head count reductions will be that drastic in the field. Second, if you do get cut, what do you think you're going to get? I've been through 4 of these " mergers" over the last 25+ years and the average separation came out to 2 weeks pay for each year of employment. Then taxes are taken from that at a lump sum rate because severance pay is a one time payout: in other words it gets taxed as bonus, and that rate is 38%. In most states you also have state income tax, so that gets taken as well. In my state that rate is 6%. I also live in a city that takes 2% income tax. So now your cumulative tax burden is 46% on that lump sum severance package. Do the math: if you've been here10 years and your base is $80000 per year, your average weekly pay is $1538 x 2 weeks for each year of service = $3076 x 10 years of employment = $30769. That's your big payout, then take the taxes out at 46% and you will end up getting that huge severance check you so desperately desire of $14153. Sorry to rain on anyone's parade but this is reality- don't quit your day job.
options. you obviously don't work here or else you'd know how sweet the change in control severance is.
No I do work here and you are correct on the options. If you have tenure then there is in all likelihood that silver lining. I'm obviously not privy to yours or anyone else's stock situation. I was simply trying to shed light on the severance package as it pertains to salary and taxation. Glad you bothered to comment.
Change in control gives you about a month per year. Options vest. You might get taxed 38%, but like your bonus, you'll get some back at the end of the year depending on overall annual income. Further in my state you can get unemployment when laid off (yes with a severence package). Not bad.
