42% layoffs announced in NVS global innovative meds

[anonymous]

100% true. Today's call for Swiss employees had the 42% number drop. Most will be in Basel campus. Already have a call scheduled for tomorrow.

 

[anonymous]

This company is fucked up. It’s in shambles with low morale no trust and a bleak future. Who is allowing this to happen?

 

[anonymous]

Novartis sucks--don’t even think of joining

Biggest mistake I have EVER made

 

[anonymous]

Novartis sucks--don’t even think of joining

Biggest mistake I have EVER made

Same here

 

[anonymous]

Timing couldn’t be worse. Just when people are planning a break from this toxic environment, the axe falls. There is no human component left in this company. Culture- if such a thing still exists here- is rotten to the core.

You’re right. Not only is it during the peak holiday season when most people have planned 2-3 weeks away with their family, the job market is almost at a standstill during July and August.

 

[anonymous]

meetings for what roles?

HQ. I've heard oncology (indirectly) and in pharma. TBD what news we get.

 

[anonymous]

Great. Who will fill those beautiful offices on that very fancy, expensive, huge campus in Basel?

 

[anonymous]

Great. Who will fill those beautiful offices on that very fancy, expensive, huge campus in Basel?

Great question! No expense spared on outrageously expensive facilities, not to mention the new visitors center. But the associates are just a disposable number….

 

[anonymous]

9 Billion for Inclicerin didn't help the situation you find yourselves in today/ 9 Billion! I still can't get my head around that.

 

[anonymous]

Tired of all the calls with conflicting information. The process sucks. Novartis has forgotten that PEOPLE (with a heart & soul) are impacted.

 

[anonymous]

9 Billion for Inclicerin didn't help the situation you find yourselves in today/ 9 Billion! I still can't get my head around that.

$9.5B, but who's counting?

They didnt stop there. Take a look at what the spent to acquire A.A.A. (and turn around and sack their whole team).

Spending money like you just won the lottery better come with some well-articulated plans, far better than the ones they had in place.

 

[anonymous]

$9.5B, but who's counting?

They didnt stop there. Take a look at what the spent to acquire A.A.A. (and turn around and sack their whole team).

Spending money like you just won the lottery better come with some well-articulated plans, far better than the ones they had in place.

Don’t forget Novartis paid $52bn for Alcon. Yes, $52bn! only to say goodbye after an 8 year run.

I’m astonished the Board allows one costly mistake after the other.

 

[anonymous]

Don’t forget Novartis paid $52bn for Alcon. Yes, $52bn! only to say goodbye after an 8 year run.

I’m astonished the Board allows one costly mistake after the other.

Don’t forget they also bought Endocyte for over 2bn to get approval on the radioligand crap and then to halt manufacturing only weeks later due to “potential quality issues”. Just hilarious.

 

[anonymous]

If your over 50 years of age, I hope your retirement is sound. This industry wont be kind to those of us with 20 years exp. and elevated salaries looking to hope on elsewhere.

 

[anonymous]

I have experience in a company like that - worked there for 15 years escaping multiple rounds of cuts - but this is definitely worse. Lack of clarity, lack of efficient processes and support and constantly changing internal landscape means this will be death by a thousand cuts. Hopefully people will leave and find fulfilling roles in other companies… but that doesn’t mean they won’t be scarred or defeated. This process is always brutal no matter what time of the year it kicks off.

Sorry to tell you that it’s no different at any other pharmacy company. At least they gave some decent notice.

 

[anonymous]

You’re right. Not only is it during the peak holiday season when most people have planned 2-3 weeks away with their family, the job market is almost at a standstill during July and August.

If you can afford to go away for 2-3 weeks, I’m sure you’ll be fine.

 

[anonymous]

If your over 50 years of age, I hope your retirement is sound. This industry wont be kind to those of us with 20 years exp. and elevated salaries looking to hope on elsewhere.

Plenty of companies that pay well where large portions of employees have 20+ years experience. The majority of my salesforce has that much experienced and many have left over the years and recently to make much more money.

 

[anonymous]

If you can afford to go away for 2-3 weeks, I’m sure you’ll be fine.

The 42% job cut is in Switzerland. In Switzerland / Europe it’s common practice to go away 2-3 weeks.
The world is not made of narrow minded US based sales reps. Think before you post nonsense.

 

[anonymous]

We are now into July.
Three months since the first reorganization announcement. And there is silk a total lack of plan, lack of clarity, lack of processes, lack of support and lack of empathy.
Congratulations Novartis! Best in class!

 

[anonymous]

The 42% job cut is in Switzerland. In Switzerland / Europe it’s common practice to go away 2-3 weeks.
The world is not made of narrow minded US based sales reps. Think before you post nonsense.

Fully aware of the norm in Europe, genius. It being common is irrelevant, You still have the money to travel, and travel is expensive right now, so either you’re a terrible manager of your money, or you are making enough to ensure you make it through just fine. I’ll reserve my empathy for those that can’t afford such luxuries.
This is pharma. Rare is the person who makes it through without being laid off at least once if not multiple times. No company cares about their people. They only care about the stock price.