Jeff J makes 10 million plus a year

And this company can’t float us through the end of the Covid-19 crisis??? Something is truly fu*ked up here.

 

Disturbing!!!!!

 

Stay Calm and listen to Van Halen.

 

The whole leadership group seems to be hypocritical. They tell us we are not a company all about “217” when the news came out and now we are laying off most the sales force because I guess we are all about “217.” But I’m betting all those guys sold their shares last year prior to it imploding and making millions. The more I’m in the industry the more I see people are only about #1. Sage is no different and was no different I guess...sad but true

 

It is just a reminder to us all. Never to buy into all the culture and kumbaya shit. The fact is none of these companies give a shit about their employees. Nothing but words. This company was nothing but smoke and mirrors from the very beginning.

 

respectfully disagree with the not caring comments. Does anyone think Sage went into this hoping not to succeed? Why in the world would anyone spend 100M just for the fun of it and to create a smoke and mirrors approach? This was risky from day one but we all chased the opportunity with the hope that we could collectively build something special. And guess what? Shit happens and we now find ourselves where we are today. We are not the first or last company this will happen at. So as you prepare for the next big thing take an honest assessment of your risk tolerance and what you need in your next gig. Best of luck

 

Ok, first: the way they finally told us that there will be layoffs was the WORST I’ve ever seen. Spent most of the call on R&D about home office, future product teams, R&D and then “oh- and yes there will be job losses/layoffs.” WTF!?! Such poor delivery, as usual. Didn’t hear anything about the best biotech in Boston. My how things have changed. Also, when asked about rep jobs, they said “We will find creative ways to support Zulresso.” No timeline given, no description of the plan. Just a blanket statement to stress everyone out even more. #thisissage So anyone know when this is happening? Are they canning everyone? Is there gunna be severance?

 

fair enough. However the plan is not done yet and is being worked on. And it was reinforced that the company wants to do the right thing for displaced employees. And it won’t just be Sales. The entire organization will be impacted. It’s a shame but it’s the reality of the industry we are in. Good
Luck to all

 

Wow! I couldn't disagree more with your comments. I agree with the poster you commented on. They spent so much time on the culture hoopla like free lunches etc. to attract people to what they were shoveling and not on what really counted for the company to succeed. I personally felt it was contrived and fake, but it was already too late and like many, felt I was sold a bad bill of goods. Nothing was like what was told to me in regards to the product and the company in the interviews. Nothing. The infrastructure was piss poor from the beginning. I believe what the other poster meant was all these companies are going to say "We have the best team" " We care about our employees." I've got news for you. They really don't.
So let's try not to over simplify this by saying "Shit happens." It is insulting. Sage Therapeutics was a mess from day one.

 

Yes! You have to do what’s right for you because they don’t give two shits about anyone else but themselves.

 

You are expressing my thoughts. I picked up on the bs within a week of starting and my suspicions were repeatedly confirmed. A big disappointment. Let’s just see this as a lesson.

 

Better luck next time. Fool me once shame on you. Fool me twice shame on me

 

I’m an old fart and as such I’ve been through this a number of times. The best reorg announcements are done well in advance and explained in detail. Dates, number of positions, severance, continuity plans, etc.

At this point the stigma of being laid off is gone. Everyone knows shit happens and it’s nothing personal. So just tell me the truth so I can adjust.

 

Thanks Mike O’Donnell

 

I’m fine with how this all played out. If you’ve been in pharma long enough you know a company with 1 product and a sack full of pipeline drugs isn’t super stable and you should know it’s a rental job. If the first drug goes great someone’s gonna over pay and you’ll get layed off and you make money off the stock you got. If the first drug is a bit of a bust, the investors will force a reorganization. It’s high risk high reward. It sucks it didn’t boom but if the drug did well and the stock shot up and we got bought out and got fat off the options we were given, you’d still have been whacked by whoever bought us. I never bought the “were not for sale”..... everything’s for sale.

 

Going forward, I will see that as a major red flag. I noticed there are people who truly buy into it until now.

 

Most peculiar comment ever made on CP!

"I'm fine with how this all played out." ABSOLUTELY CRAZY. "It sucks it didn’t boom but if the drug did well and the stock shot up and we got bought out and got fat off the options we were given, you’d still have been whacked by whoever bought us." DEFINITELY, NOT ALWAYS THE CASE. MANY TIMES IF THERE IS A BUY OUT, THEY RETAIN THE SALESFORCE.

 

Stay healthy and safe everyone. The sooner everyone gets past anger and disappointment the sooner we can face reality and get on with our lives. This sucks for sure but try to have faith in your abilities and help each other

 

Thanks for the great post! Everyone stay calm and listen to the new Pearl Jam record.

 

You should start making shirts with your ridiculous statements