Severance questions

Discussion in 'Novo Nordisk' started by anonymous, Oct 16, 2016 at 1:40 PM.

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  1. anonymous

    anonymous Guest

    Here we go with the finger pointing in the wrong direction. THE most expensive resource we have is the huge field force. And we don't need as many out here as we have. Period! No politician can impact that.

    As for outsourcing Help Desks or ITs or whatever, I saw if we they can hire someone from India or Asia that graduated from a US university, pay them $25,000 a year (instead of the $135,000+ benefits a US based worker would cost), why WOULDNT we do it? Everyone else ships many services to overseas vendors. Why can't we?

    The bottom line is that we got caught with our knickers down because we thought that our new meds would catch fire, and like we did with other products, that we'd be able to start at a relatively low price and within 3 years triple the original cost. Many also thought biosim. Lantus would be small potatoes IF it came out at all.

    (buzzer sound). We and Sanofi were wrong on both counts. "Unforeseen headwinds" my arse!

    Others have said it, and I agree: I have a sneaking suspicion that next Monday goings-on will be the first of several over the course of 2 years. This is going to be tough, because it will be the inverse of the share of voice wars of 15 years ago. Once we cut, Sanofi will cut. And then others probably will, too.

    Gods-speed to everyone. Batten down the hatches.
     

  2. anonymous

    anonymous Guest

    True. The email outlined the new procedures, the new products, the dates of access, etc. It's a law that must be followed to announce the upcoming changes for planning purposes.
     
  3. anonymous

    anonymous Guest

    how much is cobra?
     
  4. QuePasa?

    QuePasa? new user

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    Can you share the email? Without id of course
     
  5. anonymous

    anonymous Guest


    It's very expensive. Basically you pay all the premium (right now we pay just a portion and Novo pays for the rest) plus a 2% fee. An example, former novo employee who was "displaced" last year, during the realignment, COBra was about $2000 a month for a family of 4.
     
  6. anonymous

    anonymous Guest

    IDCS team didn't deserve this kind of treatment! They were among the elite sellers because they had to battle hard for these positions!! The mediocre reps are left in the field, now! There were many better places to cut! AEs are worthless! They should have gone first - then the DEs! They can't sell anything, anyway! This was a travesty!
     
  7. anonymous

    anonymous Guest

    This won't help everyone but it may help a few - this was my plan if i had been one of the unlucky ones. My husband and kids were on my insurance since it was superior and less expensive than my husband's company. For all of you who did the same, and have a working spouse, put yourselves onto your spouse's plan now that they are likely having open enrollment as well.

    You will have Novo insurance for the duration of your severance, then would not have to rely on COBRA. Previous poster citing $2000/month for family was wrong, it was more like $2,200!

    Just an option for some to think about! Good luck!
     
  8. anonymous

    anonymous Guest

    You can opt into spouses or any other plan now, you do not have to wait for open enrollment..job loss is a qualifying "life event"
     
  9. anonymous

    anonymous Guest

    On anything that vests, like options, you must be vested or they go away. Even if you are vested, most plans have an acceleration period which causes even vested options to expire after some time (usually about 60 days). If you have options in the money, be sure to exercise them.

    The only exceptions are plans that provide for accelerated vesting in special cases like death or disability, but even then the options are subject to a shorted exercise period. If you don't have the exception in writing, then you don't qualify for an exception.
     
  10. anonymous

    anonymous Guest

    Let's not throw that blanket over the entire lot - there are a select few that had this coming for a while...
     
  11. anonymous

    anonymous Guest

    Nice job Novo once again you lived the NNI way. You down sized 480 instead of 500 so you did not have to follow the Warn Act. That is living the NNI way, do not pay your people for the 60 day notice instead give them 2 weeks. Nice job!
     
  12. anonymous

    anonymous Guest

    In all fairness Jakob was called to swing the ax. He is not responsible for the failed decision making made by the ET. We hired far too many people to justify umpteen layers of sales, marketing, legal and compliance people. The wind has been knocked out of all of us and we feel for the good ones that made Novo a great place to work.
     
  13. anonymous

    anonymous Guest

    I'd say staying below 500 was strategic to rip the band aid off as quickly as possible. If you didn't get cut this time don't be blindsided when round 2 occurs. We all know there is still too much fat. If you can get another job...RUN!
     
  14. anonymous

    anonymous Guest

    We STILL have all the layers. They didn't get rid of the layers! Hell, they created more layers! Field force and some grunts in the home office took the brunt with the odd VP thrown in for good measure. I am SHOCKED nothing was done to address the overflow of DBMs.
     
  15. anonymous

    anonymous Guest

    We got out of the hospital/LTC business. Period. Why would they get rid of DEs and AEs to compensate for no hospital/LTC presence? You might not like what happened, but it makes good business sense - little to no profit in either channel and we're about to be shut out of both channels with basalglar and private label glargine. Regardless of how good any of the IDCS are, their job no longer exists, so they're gone.
     
  16. anonymous

    anonymous Guest

    NO Trump!
     
  17. anonymous

    anonymous Guest

    No, no one deserve this kind of treatment. I lost two colleagues. Good hard working people
    .
     
  18. anonymous

    anonymous Guest

    We all did. Some that got clipped were much better than those that did not. But lets not get it twisted. We will have another one inside of a year. And it will be bigger.
     
  19. anonymous

    anonymous Guest

    Yeah, I dealt with him once or twice. not a bright bulb . instead of giving me an answer , which would require him to listen and think, he told me to send him an email describing what I was talking about after I had just explained it. damn, he must be AA's boy and Art's too.
     
  20. anonymous

    anonymous Guest

    He's absolutely incompetent but the dangerous part is he thinks he deserves to be where he is!! For some reason, Andy has a huge hard on for him. They don't even try to hide it!