Getting toward the end of 2016. Been a better year....fewer cuts. Let's track all the rumors for next year
Hard to make wholesale cuts when you're already very lean as a result of years of layoffs.' On the other hand, there have been several outsourcings this year.
In a few weeks Miles will speak. In Oct of 2013 he spoke and 145 at ADC got hacked. Most cuts at Abbott happen in Q4 and early Q1. Good luck.
On Monday, October 24, 2016 at the Westin Chicago North Shore (601 N. Milwaukee Ave. in Wheeling, IL) Miles White will address the Abbott Retirement Club Lake County Chapter (ARC) at their annual meeting.
"Thanks for all you did for Abbott" says Miles. "And as a reward we are discontinuing the pensions. Business is business and I need the funds to buy St. Jude"
From the sounds of your post, you sound like a jealous ex-employee who was fired and lost your pension. Am I correct? Abbott pensions are not in jeopardy, especially not over the purchase of another company. All is well accounted for and there is nothing to worry about.
You are correct. The Abbott pension is an annuity. Does not depend much on future Abbott performance or the current Abbott CEO. Given how many companies treat their employees, I can understand some of the less than optimistic attitudes that one sees posted here and elsewhere. Isn't this thread about layoffs? I bet very few next year if any.
If you believe that, then I'd like to interest you in a fractional ownership share of this really profitable bridge in New York. Shares are going fast, don't miss out on this profit opportunity!
TOKYO -- Terumo is looking to purchase a portion of U.S.-based Abbott Laboratories' medical device business, part of efforts by the Japanese company to capitalize on rising global demand. Abbott has put some operations on the auction block, and the Tokyo-based medical equipment maker has apparently made a bid for the cardiovascular device segment and other operations.
"Abbott has put some operations on the auction block, and the Tokyo-based medical equipment maker has apparently made a bid for the cardiovascular device segment and other operations. A deal involving Terumo could be worth as much as 150 billion yen ($1.47 billion). ... Besides cardiovascular devices... equipment such as blood glucose monitoring systems for diabetes patients." ADC has been on the block for years... doesn't fit ABT's portfolio, and is a cash drain. Good bet the deal includes the Freestyle brand and assets in Asia & South America; perhaps the whole thing. Terumo can sell off Freestyle in the USA to a big retailer, or more likely, one of the Plans, to use as their "own brand".
ADC is not a "cash drain". It does make money. However, revenues peaked a long time ago and have flattened out. The Libre system help some in holding back the red and provided good press. But in order to stay competitive in the new CMG systems market ADC will need to spend many many millions on R&D, which Miles will not allow. Solution, on the Block.