Discussion in 'Eli Lilly' started by Anonymous, Aug 3, 2011 at 7:15 AM.
What if you get a title promotion? I am guessing there will be no title promotions as well.
The video seemed to leave promotions out of this "axing," so perhaps those will still be happening, presumably with the corresponding increases in pay...
Isn't it true that Eli Lilly didn't pay any corporate taxes? Just wondering....
Perhaps we can all sign up for the S. Taurel $1 pay increase that translates into $100 million a few years later. I'd love to get the deal that bastard got!
Every employee should get a thousand stock grants NOW. This would motivate most and would not cost the company nearly as much as pay raises.
Perfectly wonderful idea! Stock grants. And how about free haircuts? And waxings, as long as we are at it.
What will they be worth 7 years from now.... THAT YOU SIDNEY?
Global Shares, anyone? Anyone?
Whats the difference between Lilly GLobal shares and Toilet paper?
I think the only way to look at the pay freeze is as a pay cut. Inflation is >0%
I'll take my frozen pay in ice blocks.
That way, I can't spend the money, without letting the frozen pay thaw.
Strike price, as decreed by the Board of Defectives, $107/share, because SURELY the stock will just rocket above that in the next 18 months, NO?
Sign me up for a Sidney-style pay freeze any day.
This happened in 2001 but was even worse. Prior to 2001 everybody received Corporate Compensation. It was an extra 10% bonus at the end of the year. everybody got it- from the janitors all the way up to the VPs. Taurel cut thee CC and froze all raises in 2001 and minimal raises in 2002. It was pretty much cutting payroll by 10% across the whole company. He then issued options at over $70 to all of us. By the time the date wast set to exercise the options, the price was well below water. I left many years ago and I have done quite well financially. If I would have stayed, it would have cost me even more money. There is no loyalty gem management at Lilly! If you can make more money someplace else you should consider doing so. Good luck to all of you and remember that the light at the end of the tunnel is probably an approaching freight train.
Lilly are cheap b^stards and the pay freeze just confirms it.
No, actually CC stood for CONTINGENT COMPENSATION, ie, it was CONTINGENT upon your having a pulse and occupying space. I should know, I invented it while making Treflan™ intermediates at Tippy!--KingJohnL'Ill
I have it: I can use toilet paper!!
One is used for personal hygiene, the other the other expands to fill your septic pit.
It's probably a choice between pay freeze and a dividend freeze or (heaven forbid) reduction.
In theory, the new approach to determining pay increases already set them up to limit increases for anyone who was at or above the midpoint of their pay scale and didn't receive a better than successful rating. But in reality, probably almost all managers were using their full alloted budget.