If Olympus was such a great company, why so many open positions?

BINGO!!!

 

What is the state of Olympus Surgical?

Distant 3rd in market
Low compensation opportunity
High turnover
Middle/Upper Management
Quality of Life
Direction of company and division
Prior financial scandal and huge fines
Capitalizing on GI market

 

What’s going at Olympus? All the turn over and Reps leaving for so many years. Noticed a great RVP just left.

 

WHO? Spill the tea...

 

Whats going on? Its the shittest company there is and its not getting better. The good news is we are opening a new office! Where we will have communal seating.

 

Lots of the older brass offered an early retirement. Big headcount reduction coming so they wanted to see how many they could get to walk away on their own before layoffs begin.
Lots of money committed to the new office preCovid. That coupled with the reduced sales of capital this last year and the ridiculous comp plan bonus payouts with the reduced revenue have them on their heels and needing to save lots of money the coming years. Comp only going to get worse for managers and reps moving forward.

 

True, Sr. brass leaving ('retiring') now. Tough for them to find another good gig, being Sr.

 

Mass exodus coming in Urology

 

Yes, lots of people are leaving urology. People there have either left, are trying to close their last big deals then leave, or have quietly quit. Think most people are interviewing there.

 

Why are sales so low? Why have billions dropped off the annual revenue?

 

Hey get a clue and look at the financial reports and earnings calls. Highest operating profit in company history.

 

Leadership is very poor across all of the divisions at Olympus. Don’t listen to me. Just look at the track records. No one has done anything of significance. All leaders are mediocre here.

 

ALWAYS mange to the bottom line. Not a sales driven company

 

Over a decade ago it was around $10B revenue and now it's $6B. Yeah "get a clue".

 

I tried to apply for an endoscope repair technician at the Olympus in Bartlett, TN back in the fall of 2018. It was a contract position through Randstad and only paid $13 an hour. Randstad did a very poor job of handling the interview. They kept pushing it back 3 or 4 times and rescheduling at the last minute. I even came in and got dressed up for it and because they had several people there for it they just had us all fill out paperwork then rescheduled it for a phone interview later that week. The lady I spoke to described it in a strange way. When she asked about some of previous work experiences I told her I had left because of too much mandatory overtime, she said they had mandatory overtime there sometimes but claimed it was only 5 hours a week and could be done with an extra hour each day or coming in on Saturday and doing all 5 then. Furthermore, she stated some people liked to come in anyway on Saturday for overtime, which I doubt is true. Upon later checking reviews, I see that only 5 hours wasn’t true, overtime was way more than 5 hours. She also stated they only wanted people who were serious about the job that planned to stay with the company long term. Again, I check reviews and see this place has very high turnover and people don’t last long because they either quit or are fired for the pettiest things. After being told I would here back from them soon for a second interview I never heard back. And seeing again in reviews, some people were hired on and not even given a start date for three months. I am glad I did not get on at this place and would not recommend it to anyone.

 

You should see what is happening here in SE and ENT now. All Area VPs quit in SE this week and half quit in ENT. The writing is on the wall. Stay away from Olympus if looking, and if you are unfortunate to be stuck working in Olympus right now, run! Polish your resume and get out. You are negatively impacting your career progression by staying. The leader is SE tried leading with fear and it backfired. I’m not sure why all of the leadership left, but the only logical explanation is they have information that the reps don’t have and decided they were not confident in the trajectory of Olympus. It looks as though Olympus might die or step back significantly as a legitimate medical device company. It is unfortunate to see what the wrong leadership can do to the right products.