GSK layoffs coming 2015, to be announced within weeks

Heard it from a very connected source that major layoffs are coming next year and will be announced in Dec. Home office way to fat and will be cut and field will be cut by eliminating whole divisions because too great a chance for lawsuits if cut based on IR. Respiratory should be safe, all others? (that last part was speculation)

 

Let's be honest. It would SUCK to lose this job. But Criminy, do we really need so many of us out here tripping over the few offices that are "open"?

 

To the OP. I heard layoffs coming next year as well. However, nothing about "divisional" layoffs. In fact, heard that reps will be placed into a pool and criteria will be based on several factors. GSK will look to go to a true "general pharma" division where reps will carry complete product portfolio. My understanding is that Respiratory is just as much at risk as the IDN division. Also, layoffs for the field not to occur before September of 2015.

 

Is tomorrow D day?

 

What is up with tomorrrow? Is there a big TC or something that i missed happening tomorrow?

 

These cutbacks / layoffs in years past , usually are completed before Christmas.

 

Keep trying chicken little! No layoffs this year! I know you want something to stress over. I know you want to try and spread fear and anxiety to others. Unfortunately for you, you are going to have to wait until spring of 2015. Field is staying put for now. So come back in April and tell everyone how there is going to be a "bloodbath". All that will happen next year are attrition without openings being filled. Early retirement offerings. Maybe a 10% reduction in U.S. sales force headcount. See ya in April!!

 

Yes Layoffs are coming. Did you not listen to dd and aw? The cuts will come the early part of 12-15.

 

Enjoy the job while you have it, I went through many layoffs and decided to leave in 2010. GSK has issues as all big companies do. They have great benefits that will be difficult to replace. However, most will be ok and those that loose their jobs will likely find other opportunities. It takes a toll waiting on the impending doom year after year. On a positive side the company has some new products that could help the company return to growth. The reduction in Advair sales could be positive, as it allows upper management to reduce the price of new products without fear of impacting Advair sales. The market (insurance) demands that the new products come in at a cost savings. This puts the pressure on the insurance companies to go with the new product to reduce costs.

 

I believe the person was off one year. December 2014 will have deep cuts. I have been working with HR on the drastic changes.

 

And you are also working on selling off that prime swampland as well, right?

 

I heard packages were offered to home office people very recently. Can anyone confirm?

 

NOTHING TO WORRY ABOUT. ALL THE NEW PRODUCTS HAVE BEEN BLOCKBUSTERS !!!!!!!

 

Over one year tenure = 2 week's salary + 90 days medical / dental ...... sorry.

 

Why are you sorry? That is a weird comment.

 

Repeating the lie won't make it true. The severance policy is available for all to read.

 

I heard the same thing and that the packages were pretty sweet. It makes sense to offer packages to try to reduce headcount, while maintaining morale among the trooops while launching new prods.

 

Good Bye My Friends-IDN, ICT, MCS what an absolute waste of money to have all of these people that are doing nothing. Driving and Flying around...playing golf, fishing and doing nothing to influence HCP's. That is right there is ZERO access to many of these accounts. Lastly, affiliating HCP's to accounts/Hospitals in order to receive credit to justify their jobs.

 

I love the way people deliver news of a layoff as if they are tying to help us with something> As if they are delivering us a gift. when the fact of the mater is that those people are just speculating. They are negative losers who want others to feel pain and anxiety.

Im here to offer a little perspective. Will there be layoffs? Yes...but not until 2015. Will the cuts be deep? No! Maybe a 10 percent cut. That's about it! By the way, I am connected! I have been prevy to top level discussions. Most of the cost savings will come at the expense of our colleagues overseas. Europe is na disarray and does not have the earning capability of the U.S> based on their healthcare model. Domestically, we will see cuts in our R&D and home office personnel. Sales will be affected but not that drastic. Early retirements may be offered. For those looking for a package, sorry, that is not on the table at this point.

So again, a little perspective folks. Happy Thanksgiving!

 

My understanding is R&D will take a 20% cut. That is significant....we understand it will be on the US side but unclear if cuts will be skewed to either RTP or Philly.