Some insight into how BMS conducts its layoffs


This is not even remotely accurate, off by leaps and bounds. By your assessment the hit of an employee to P&L is about $75,000 which is nowhere near reality. Do you know how many employees at BMS have base salaries over $100k? Over $200k? Over $300k? Beyond that the company pays bonuses, LTI, 401k match, health insurance, T&E, etc. This moron is off by about 95%.
I’m thinking between 2-3k jobs lost.
 

Bristol Myers Squibb plans $2 billion in cost cuts by 2027 - I am thinking that this is a huge indicator on what is to come.​

  • Bristol Myers Squibb said it will slash $2 billion in costs by the end of 2027, expanding its ongoing cost-savings effort to chart a path toward long-term growth....... Bristol Myers said savings will be driven by organizational changes and efforts to streamline operations, and will allow the company to invest in new science and drug brands expected to deliver growth. Bottomline: People are going to be cut further. Truth: They should not have bought Celgene. They could not afford it.
 

Bristol Myers Squibb plans $2 billion in cost cuts by 2027 - I am thinking that this is a huge indicator on what is to come.​

  • Bristol Myers Squibb said it will slash $2 billion in costs by the end of 2027, expanding its ongoing cost-savings effort to chart a path toward long-term growth....... Bristol Myers said savings will be driven by organizational changes and efforts to streamline operations, and will allow the company to invest in new science and drug brands expected to deliver growth. Bottomline: People are going to be cut further. Truth: They should not have bought Celgene. They could not afford it.
They have 7 pages of jobs on LinkedIn. I would not fall for it, beware. I have applied to some and you do not even get a reply back that you do not have a job. My gut tells me they are not real. Like so many of us have heard about, HR just creates these. WHY? Who knows to help promote an image that just is not there. Sadly they dupe the people that want to work.
 
You will stay on the payroll for 3 months + a get a minimum of 2 months of severance after that ends...could be more depending on your tenure.

It's not a bad package and my life improved significantly after being let go. Honestly feel bad for the people still stuck there.
 
Figure $250k/person fully loaded with benefits. Thats for person with a mid-100k salary. 4,000 headcount cut per $1B, if you figure that’s on average. Would be a Mich more realistic range. With such high salaries, the # becomes a lot less & they will focus on de-layering. So think 4,000 job losses. Anything less you should consider yourself fortunate. They said 1/2 would come from operational efficiencies & the other half from people cuts. So $1B from each
 
You will stay on the payroll for 3 months + a get a minimum of 2 months of severance after that ends...could be more depending on your tenure.

It's not a bad package and my life improved significantly after being let go. Honestly feel bad for the people still stuck there.
This is a pretty good package, I’d be happy to take it. Idk what everyone is worried about.
 
A common denominator I saw in WCE was the highly talented, successful, upper percentile performers, but independent minded, all being let go. The ass kissers, the liars, the clueless, were all retained and in some instances promoted to roles they are not capable of performing or understanding. And now people cry about the lack of innovation? Oh well.
Well paid bullshit artists.
 
You will stay on the payroll for 3 months + a get a minimum of 2 months of severance after that ends...could be more depending on your tenure.

It's not a bad package and my life improved significantly after being let go. Honestly feel bad for the people still stuck there.
does everyone get the same package?
 


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