Massive layoffs planned in Pharma?

Hearing that massive layoffs will be announced in Pharma soon. Does anyone know what it means for the US?

 

D E S P A I R

 

Novartis pharma?

 

I have no idea if this is true but it wouldn't surprise me. The stock price, unsuccessful new products and the Long Island situation still looming all call for drastic cost savings

 

Believe this has been in the works all year. Would not be surprised if the very quiet leaders had a very loud announcement at year end that mirrors those made before

 

What's the Long Island situation?

 

No surprises, Papa Novartis has to slim down before marrying AZ or someone else. Layoffs are coming, get your resume updated and run away if you can

 

That's right, expect a "lovely" Xmas present from Paul Hudson

 

This is bullshit as hundreds of Entresto reps are being hired on currently.

 

And the massive increase in reps has had a direct correlation to the enormous uptake in utilization. Can't even keep the distribution centers stocked. WOW!!! Great to be a part of this effort.

 

Given that stock price dropped from $106 to $69, comes as no surprise. I was one of the US FTEs downsized in 2014...

 

Did you get another job?

 

They have not even been out in the field yet.

 

Yeah, bc people don't ever get laid off while in training. What planet do you live on?

 

The question is, if there is a big layoff that has been planned for awhile, why would Novartis continue to hire people? That makes no sense. Usually you have a big hiring freeze before massive layoffs. Why pay severance/salaries to extra people. Been here a long time and before every big layoff there was a hiring freeze.

 

How much sense did it make to hire 400 PDI reps in August? What's been the impact on sales?

 

New blood for less $$ to replace the remnants of overpriced legacy reps
it's happened 1/2 dozen x or more since 2000

 

A lot of the new hires, in the past year, are making more then the Legacy reps

 

Just wait a few months and see what will happen... maybe not this year but early next year - 100% guaranteed. A HUGE re-organization is coming - together with downsizing!