Celgene Layoffs to be Massive!!!

Which is the way it should be. Some of you visa folks on the IT and Tech side are a bunch of freaking hacks. Have noooo idea wtf you are doing.

 

If there is someone still working for Celgene in this forum? Would you please kindly provide any suggestion whether to join Celgene now? How the actual layoff would be serious or not? Thank you very much.

 

Nobody has been laid off from Celgene as a result of the BMS buyout as of yet.. so I’m assuming everyone on this forum is with Celgene unless they’re just trolling I guess. You won’t be joining Celgene, you’ll be joining BMS which I cannot speak to... the consensus from BMS employees is that it is probably too 5 worst pharma companies you could work for.

 

that’s because the deal has not closed!
Keep this in mind “last in first out!

 

about 4k Celgene employees will be shown the door in addition to 2-3k BMS employees.

“Enabling functions” are toast. Followed by duplicative onc, rheum and the BS Rev “marketers” that don’t do a thing for a drug that sells itself.

 

Enabling functions on which side?

 

Will most all of the layoffs on both sides be in NJ or a portion on intl side?
Also, how about R&D side?

 

On R&D side, the new CSO for the merged company is from Celgene. This is a game changer for BMS R&D folks.

 

All of Rheumatology will be let go. Some may find a place with Ozanimod, but then again you would be working for a big Pharma collective on a brand that might launch 18 months too late.

 

Oh boy! The CSO - Vessey is from Celgene which has the worst R&D conversion rates amongst its peers. Since Vessey has been in charge R&D has spent millions and produced next to nothing.
Good luck BMS!

 

Does the fact that Vessey is taking over as R&D head mean that there may be more layoffs on the R&D on BMS side relative to Celgene? I work in R&D Immunology at BMS and am worried about being laid off. Also, any thoughts on when such layoffs could occur now that the deal is delayed?

 

I second that - does anyone know who and how the reduction in force decisions are actually made?

 

The BMS Leadership Team will allocate the $2.5 billion synergy targets across functions. Each functional leader will then work with their leadership teams to determine how to achieve these run-rate reductions by end of 2021. They will also determine what percentage of that will come from headcount reductions versus other cost reduction opportunities. With this in mind, they will develop their Day 1 and future state organizational designs to deliver the expected savings/run rate reduction by end of 2021. So... the RIF will vary across functions.

 

Interesting. So does this mean that layoffs may not happen this year or at time of merger but may only happen over 2020-2021? I recently was hired in R&D about a year and a half ago so I am probably going to be one of the first ones out so the more time the better.

 

who are the leading bidders for Otezla?

 

When's this deal going to realistically close. They said end of year or early next year but what's the inside scoop on it realistically?

 

No one knows except a few people.

I got promoted this year and HR told me I would not be getting the extra RSUs due to the merger agreement. So if this is the case if it doesn't close next year they're either going to have to get another approved equity offering through the agreement or they're not going to give us anythin until it closes.

 

They said a few times November 1st is closing day - you obviously don’t work here- you’d know then

 

They've stated 01NOV as an extremely ambitious target, and not likely to be met - but is used for planning purposes only. Do you even read the emails you get? There's a reason they did not communicate 01NOV externally.

 

I do read my emails - Thank you for asking
I also read the internal memo that said we are on track to close Nov 1st dumbass