Is lay-off coming ?

As covid-19 gets worse throughout the US will TxMD pull the plug on the sales team ?

 

With the stock price at $1.04, it is only a matter of time. I knew it was the kiss of death when Rob decided to move us into the larger office space. That move cost us a fortune. We aren’t there yet and don’t need the space. Mark my words, with all the overhead this company has now, changes will have to be made.

 

100% - Rob needs to pay for that lambo...... so lay off the sales force- no big deal.

 

Does anyone have a guess what this big Syneos teleconference tonight and tomorrow are going to be about?

 

Corona just sped up what we all knew was coming. You can’t tell me after that meeting you felt good about this place. Shit was falling apart and they were tossing money at us to “stay selling” while they put lipstick on a pig to sell it off to one of the big boys. Now this pig shows what it worth $1

 

Calls are probably about staying in and not working outside making calls. No lay-offs are coming. Wouldn’t make sense as there is plenty of money in the bank. Hopefully we get through Corona and in a few weeks back to normal. If it lingers for months then yes, like so many other companies will have no choice but to cut back. Let’s hope we get out soon and sell a lot of product and get this stock up.

 

only if it lasts more than 8 weeks I would bet.

 

They invested a ton in BI with no return. I don’t know what they spent on Edge but seems like a waste of money.

 

Yup not to mention the people they already laid off- put them in a horrible position. They won’t be able to get the federal stimulus package-( or at least the most amount ) since the government is basing that amount off of last years taxes. So screwed again.

 

i agree, this place is completely Fd up

but, if it’s based off of last years taxes, wouldn’t everyone be in good shape?

 

If you make a certain amount of money- I believe you dont get anything- so for example- you grossed 95k - that’s already put you above the 75k threshold - that’s my understanding of the package - under 75k person would get 1200$ and 500 for each dependent -2400 for married couples

 

75K and under (single) 150K (jointly): $1200 for an individual and $500 for each kid up to $2400 for a family of 4 or more
75.01K - 99K (single) 150.01K - 198K (jointly) : Amount decreases
Above 99K (single) and 198K (jointly): Nothing

 

I do believe layoffs are coming . This covid19 pandemic isn’t going away anytime soon. Its a sad day when something out of your control takes away opportunity . The pharmaceutical world will change forever .

 

I agree, I think this accelerates closed access. Some of these offices that are closing to reps aren't going to ever open their doors again.

 

If it does, it shouldn’t just be in the field. BI was ramped up significantly in the last year with no ROI.

 

Not for now. Part of the stimulus package allows them to collect money if they don't lay people off. We're good for a while. Don't expect work to look the same when this is all over.

 

I sure am happy we had to move into a brand new building so Rob and John could look good losing us 200mm a year.

 

Trust me, this place does not value people - I’ve been there. They will thrown you out on the street with no severance pay (fact), and pack your stuff up like a dog. People in BI would recommend axing reps whose % Medicare is over 60%. Take the opportunity during this downtime to dust off your resumes and get them out the door.

 

Maybe a Furlough coming ?

 

Rob stated we are good with$ at least through second quarter! Plus if they receive money then lay off then they have to pay it back!