Layoff now

The Thousand Oaks Accorn now has an article about the layoffs.

https://www.toacorn.com/articles/amgen-to-lay-off-another-200/

It even references CafePharma as Amgen is trying to downplay these layoffs by not announcing it. No transparency from this two faced company.

 

Sounds like the current politicians in Ventura county consider 200 jobs to be insignificant.
Not to mention that the benefits of R&D hubs are largely mythical. For every advantage you'd see from an R&D hub, there is a disadvantage of similar impact on the bottom line. In a hub, your employees will all be free to leave whenever Amgen management misbehaves (which is very often). Amgen managers will have to compete (besides just the salary) to retain any current workers rather than having a captive population; especially regarding the married employees who were somewhat trapped in Thousand Oaks due to mortgages underwater, houses too big anyway, and difficulty of finding two new decent jobs near the same city. Managers may have to actually treat people well in daily life (the horror!)
Essentially, all the costs of moving people, layoffs, AFP, etc are all wasted -- because the benefits & disadvantages of an R&D hub are at best a wash (disadvantages may even be greater). That super-pipeline of Amgen was built with no hub.... and all the competitors with lesser pipelines are all operating mostly in the hubs.

 

The super pipeline seems to be gone now, but it was still there in 2014, before the hub mania killed it.

 

The pipeline that built
Amgen was based on epogen, neupogen and it’s derovatives of neulasta and aranesp.

Innovation at amgen is dead! Pipeline is all smoke and mirrors.

 

Amgen used to be its own hub just by itself, an actual leader and innovator.
Now it is only a follower in search of a hub to worship.

 

To the folks at VC Star ... it started more than a week ago, go back to sleep. Maybe you need a newspaper hub to tell you what to do.
http://www.vcstar.com/story/money/business/2017/11/10/amgen-layoff-200-people-california-including-some-thousand-oaks/852937001/

 

seems they have been hubbed already ... this explains why the reporting has gone downhill:

https://www.pacbiztimes.com/2016/04/08/gannett-buys-ventura-county-star/

 

Making Bob and his cronies richer has been the primary goal for sometime now

 

Just saw on WARN
http://www.edd.ca.gov/jobs_and_training/warn/WARN_Report_for_7-1-2017_to_11-10-2017.pdf

Notice Date Effective Received
11/01/2017 12/31/2017 11/02/2017 Amgen Thousand Oaks Ventura County 121 Layoff Permanent

As others wrote: layoffs tell the world a pharma company is weak and sometimes even desperate, like "what do we do now?!" . Stock price is starting to reflect that. Cutting costs is not going to shoulder sales that do not materialize.

 

jay Chiang hired McKinsey and then paid them to run an analysis to fire more R&D folks in TO. Jay did analysis on performance status of Ivie and non Ivy schools to convince Bob that if you do not attend a top school, you are worthless and should be fired.

 

All this managers who get hired to do a job and then they always hire a delegate an outside party to do the actual job. Makes you wonder why they cannot it on their own. Maybe all these expensive business degrees are not that good after all. Just maybe, of course.

 

Top tier business-school degrees are expensive. Between tuition and fees and loss of income for the time it takes probably $15-200k. Those who get those degrees think first and foremost about themselves and not the employees and most definitely not the shareholders. Those suckers!
But then, truth be told, even mid-tier employees sometimes, given a chance, hire friends or put friends who are absolutely not adequate in positions where they cannot do any good or even some damage. So, one cannot point the finger to upper mgmt only.

Shareholders not happy these days! And, since stock price comes down and that is one of the parameter for the size of bonuses, top mgmt could not be all smiles either. May have to buy a Jaguar instead of a Maserati or a Porsche. A real drama!

 

Tuition - 60k x 2 years = 120k

Cost of living and other supplies = 20k a year x 2 = 40k

Forgone income - assume 65k pre-MBA salary on average = 130k

I would say total cost is $200-300k

 

Treating less patients because of poor management: Priceless

 

Layoffs soon