Questions and Concerns for Senior Management

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anonymous

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I think we all agree this is a really bad day. My hope is that senior management decides to keep all of us while they appeal the case in an attempt to maximize IBS D revenue over hopefully the next 2 years. That would be awesome. However, I have a very important ask. I’d be willing to role the dice and stick around if we had a defined severance agreement in the event layoffs become necessary. I have no clue if we have one now. I also believe people will be leaving ASAP without some substantial severance agreement that covers at least 1 year. If we are not having layoffs in the near term this must be addressed or I can’t imagine that everyone will not be looking to leave. Please address this on our call as opposed to the usual softball questions or open the line to real questions and I will ask it.
 


anonymous said:
I think we all agree this is a really bad day. My hope is that senior management decides to keep all of us while they appeal the case in an attempt to maximize IBS D revenue over hopefully the next 2 years. That would be awesome. However, I have a very important ask. I’d be willing to role the dice and stick around if we had a defined severance agreement in the event layoffs become necessary. I have no clue if we have one now. I also believe people will be leaving ASAP without some substantial severance agreement that covers at least 1 year. If we are not having layoffs in the near term this must be addressed or I can’t imagine that everyone will not be looking to leave. Please address this on our call as opposed to the usual softball questions or open the line to real questions and I will ask it.
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Please keep the thread updated — this is a great point.
 




anonymous said:
I think we all agree this is a really bad day. My hope is that senior management decides to keep all of us while they appeal the case in an attempt to maximize IBS D revenue over hopefully the next 2 years. That would be awesome. However, I have a very important ask. I’d be willing to role the dice and stick around if we had a defined severance agreement in the event layoffs become necessary. I have no clue if we have one now. I also believe people will be leaving ASAP without some substantial severance agreement that covers at least 1 year. If we are not having layoffs in the near term this must be addressed or I can’t imagine that everyone will not be looking to leave. Please address this on our call as opposed to the usual softball questions or open the line to real questions and I will ask it.
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Any potential for a generous or long term severance agreement sailed years ago when we became part of Valeant. Plus, leadership would celebrate if a bunch of us left. Less money to have to pay out.
 


anonymous said:
Any potential for a generous or long term severance agreement sailed years ago when we became part of Valeant. Plus, leadership would celebrate if a bunch of us left. Less money to have to pay out.
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I was with Salix during the Valeant acquisition, Salix peeps got the 1 year pay and benefits deal. Fat Mike only gave a few this deal, mainly in-house folks. Most field personnel that were to be cut were kept 1 yr + 1 day….so they would fall under Valeant policy…needless to say it sucked, but what do you expect?
 


anonymous said:
I was with Salix during the Valeant acquisition, Salix peeps got the 1 year pay and benefits deal. Fat Mike only gave a few this deal, mainly in-house folks. Most field personnel that were to be cut were kept 1 yr + 1 day….so they would fall under Valeant policy…needless to say it sucked, but what do you expect?
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I was there. One year and a day and they cut more than 30 people from the KAM team with two weeks severance and a kick in the ass. Dirty bastards.
 






anonymous said:
I think we all agree this is a really bad day. My hope is that senior management decides to keep all of us while they appeal the case in an attempt to maximize IBS D revenue over hopefully the next 2 years. That would be awesome. However, I have a very important ask. I’d be willing to role the dice and stick around if we had a defined severance agreement in the event layoffs become necessary. I have no clue if we have one now. I also believe people will be leaving ASAP without some substantial severance agreement that covers at least 1 year. If we are not having layoffs in the near term this must be addressed or I can’t imagine that everyone will not be looking to leave. Please address this on our call as opposed to the usual softball questions or open the line to real questions and I will ask it.
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Headcount reductions have been on the drawing board for months now. There are contingency plans in place. Who knows when the axe will fall.
 




anonymous said:
A year severance? Thanks for the laugh.
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When Valeant bought Salix, every current employee had at least 365 days grace. If they were let go within that time frame, up to March 30, 2016, they received a full year of pay and full benefits. April 1 that dropped to two weeks. Maybe you weren’t here during the buyout.
 


anonymous said:
When Valeant bought Salix, every current employee had at least 365 days grace. If they were let go within that time frame, up to March 30, 2016, they received a full year of pay and full benefits. April 1 that dropped to two weeks. Maybe you weren’t here during the buyout.
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We only got that because that’s what Santaurus had when Salix bought them and Carolyn saw that and switched it at Salix when she knew a buyout would as pending - she cared about her people- unfortunately JC only cares about what is in his best interest .
 


anonymous said:
We only got that because that’s what Santaurus had when Salix bought them and Carolyn saw that and switched it at Salix when she knew a buyout would as pending - she cared about her people- unfortunately JC only cares about what is in his best interest .
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Agreed. I was responding to the “thanks for the laugh” guy. The one who obviously didn’t get to participate in the Salix stock buyout or any of the other amazing rewards we got before the Valeant criminals, including Jabba Josh, started sucking the blood out of this once great company.
 



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