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<p>[QUOTE="Anonymous, post: 3970450"]Good point , velez was included OT was not :</p><p><br /></p><p><br /></p><p>Novartis Sales Reps Win Lawsuit for Overtime Pay</p><p>July 7, 2010By Chelsea Hennessy</p><p>The 2nd Circuit ruled yesterday that Novartis AG's sales representatives merit overtime and are covered by federal wage-and-hour laws under the Fair Labor Standards Act (FLSA). Plaintiffs claimed they were underpaid because they were denied time-and-a-half for each hour worked over 40 hours per week from 2000 to 2007.</p><p><br /></p><p><br /></p><p>Lagging sales spur Novartis layoffs</p><p>October 18, 2007 — 6:59am ET </p><p>When are skyrocketing earnings bad news? When they're not based on rising drug sales. Novartis posted $6.87 billion in profits, more than triple its results during the third quarter last year, on the strength of large divestments.</p><p>Pharma results were so poor that the company will lay off 1,260 in the U.S. and rearrange its management. Joe Jiminez, who joined the company in April from the private equity firm Blackstone Partners.</p><p><br /></p><p>Novartis Cuts 550 Jobs & Shakes Up Management </p><p>5 Comments</p><p>By Ed Silverman // October 20th, 2008 // 7:28 am</p><p>As reorganizations go, this one reaches most parts of the company. First, the drugmaker is cutting 550 sales reps, as part of a new business model with five new regional units for reaching doctors and insurers called “Customer Centric Initiative” (back story). The move should save $80 million annually as of 2010.</p><p><br /></p><p>Novartis Flip Flop: Cuts 1,400 Jobs Only Days After Denying Layoffs</p><p>By Jim Edwards | December 1, 2010 </p><p>inShare.</p><p>The announcement of 1,400 layoffs at Novartis (NVS) yesterday came just days after the company denied it would do exactly that. The move is the third different and contradictory signal Novartis has given investors and its own employees about its plans to cut jobs, suggesting that CEO Joe Jimenez does not quite have all his internal communications ducks in a row.</p><p><br /></p><p>With Sales Up and Costs Down, Novartis CEO Rewards His Staff With Layoff</p><p>By Jim Edwards | November 18, 2010 </p><p>inShare.</p><p>Novartis (NVS) CEO Joe Jimenez told investors yesterday that he planned across-the-board cost cuts, which his employees ought to interpret as meaning layoffs, in manufacturing, sales and marketing. It’s something of a surprise because revenues at Novartis are rising (13 percent in Q3 2010),[/QUOTE]</p><p><br /></p>
[QUOTE="Anonymous, post: 3970450"]Good point , velez was included OT was not : Novartis Sales Reps Win Lawsuit for Overtime Pay July 7, 2010By Chelsea Hennessy The 2nd Circuit ruled yesterday that Novartis AG's sales representatives merit overtime and are covered by federal wage-and-hour laws under the Fair Labor Standards Act (FLSA). Plaintiffs claimed they were underpaid because they were denied time-and-a-half for each hour worked over 40 hours per week from 2000 to 2007. Lagging sales spur Novartis layoffs October 18, 2007 — 6:59am ET When are skyrocketing earnings bad news? When they're not based on rising drug sales. Novartis posted $6.87 billion in profits, more than triple its results during the third quarter last year, on the strength of large divestments. Pharma results were so poor that the company will lay off 1,260 in the U.S. and rearrange its management. Joe Jiminez, who joined the company in April from the private equity firm Blackstone Partners. Novartis Cuts 550 Jobs & Shakes Up Management 5 Comments By Ed Silverman // October 20th, 2008 // 7:28 am As reorganizations go, this one reaches most parts of the company. First, the drugmaker is cutting 550 sales reps, as part of a new business model with five new regional units for reaching doctors and insurers called “Customer Centric Initiative” (back story). The move should save $80 million annually as of 2010. Novartis Flip Flop: Cuts 1,400 Jobs Only Days After Denying Layoffs By Jim Edwards | December 1, 2010 inShare. The announcement of 1,400 layoffs at Novartis (NVS) yesterday came just days after the company denied it would do exactly that. The move is the third different and contradictory signal Novartis has given investors and its own employees about its plans to cut jobs, suggesting that CEO Joe Jimenez does not quite have all his internal communications ducks in a row. With Sales Up and Costs Down, Novartis CEO Rewards His Staff With Layoff By Jim Edwards | November 18, 2010 inShare. Novartis (NVS) CEO Joe Jimenez told investors yesterday that he planned across-the-board cost cuts, which his employees ought to interpret as meaning layoffs, in manufacturing, sales and marketing. It’s something of a surprise because revenues at Novartis are rising (13 percent in Q3 2010),[/QUOTE]
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Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
Pharma/Biotech Companies
>
Novartis
>
Novartis milestones be proud ! Management take a bow !
>
Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
Pharma/Biotech Companies
>
Novartis
>
Novartis milestones be proud ! Management take a bow !
>