Abbott Nutrition

I agree with you. Can you share why you think it's a sinking ship?

From my perspective we don't have the right products. We let a company start with 0 sales 4 years ago to 400 million, Premier Protein. Our high protein ain't scheduled to launch till March-May. After people are discharged from the hospital no one seems interested in buying Ensure. This is not proven but some think 40% of the product is bought by caregivers and we do nothing to advertise to them.

More changes to come. There are 86 outpatient reps that all they do is service 3% of the physicians. This is a cost not needed. The fact that some of these people went to TPC is crazy. They couldn't find their way out of a paper bag.

The main problem is everyone in Columbus is from a scene where the Emperor Wares No Clothes they are to head strong to believe because they they think they are amazing when they are responsible for this trajectory.

 

you are correct. I should have specified that outpatient was the sinking ship. Just like you said, it’s an unnecessary cost to have the 90+ reps calling on physicians who don’t care or have the time to talk about nutrition. We would be wise to take the money and invest it in direct to consumer marketing.

And yes tpc is a joke. It’s all politics and not performance based. Why? Because bonus measures are subjective and have nothing to do with the quality of rep you are. As a rep, it should raise a red flag when you get emails saying that retail is growing due to increased marketing dollars and a promotion at Costco but says nothing about reps doing their job well when they are bonused 100% on retail since “that is their sole responsibility”. I would be weary.... if you can’t connect the dots then you probably shouldn’t be in sales, let alone business in general.

 

Patton was a genius.

 

Patton took the company to new heights!

 

Lots of people leaving today after the bonus check clears

 

What ? The plan payout was 2 weeks ago.

 

Obviously your bonus was zero so you didn't notice

 

The above statement is true.

 

Pediatrics is the only important division. All others can disappear.

 

Finally someone speaks the truth

 

Exactly. Premier protein is a protein shake company not a therapeutic product but people don't care. They grew from 0-400 mill with little to no marketing money spent and keeping their price down. Abbott is spending millions and losing market share.

If you think Ensure making a higher Protein product is the answer to your problems keep dreaming. Ensure will forever be associated with old sick people because that's the people that have used it for the last 40 years. It won't appeal to the mass markets because of the brand recognition(which is why premier protein has been so successful). It would
Be like depends underwear trying to make regular underwear like Hanes, fruit of loom etc. for people in their 20s 30s and 40s.. not a smart move. Should have private labeled if anything at all.

And yes TPC is all politics.

 

I guess you lost, SOUR GRAPES

 

or laid off

 

Layoffs aren't done. Still looking at small ways to reduce head count. All of us older reps watch out. There is a list of us out there and they are planning to offer us a buyout and put us to pasture.

 

I got laid off from Abbott three years ago. Worked at a medical device division for 12 years and I am at retirement age. Package was 8 months plus unemployment. Pretty damn good. They laid off a bunch of old farts that day....

 

Anyone else think we are on borrowed time until at minimum the adult division is sold?

 

im late to the game. the adult division is being sold?

 

i doubt it but you never know! There were rumors in 2017 when an article was published in the crains report (google it) about this but miles squashed them at the employee meeting using the analogy “when your child goes and wrecks your car, you don’t get rid of that child, but some things will change after” meaning that just because Abbott nutrition is under performing we are not going to sell it, but major changes will come. Not sure who they would sell it to. There would only be limited buyers. But I think they realize they don’t need reps or as many reps as they have in the field.

I think they are trying to work out the long term reps that have the 90k + bases with the fat pensions and bring in new entry level reps looking to get their foot in the door to med/pharma making 55-60k base and 75 all in covering multi state territories.