Advice needed!!

[Anonymous]

I'm thinking of taking a sales position with B&L. How do you think the buyout will effect the sales team? Thank you very much for serious responses. This is a tough decision for me. Thanks

 

[Anonymous]

Valeant and b and l stated that they did not plan to reduce the sales force; but when asked if that could change later they said yes.

Good luck

 

[Anonymous]

is that in reference to the pharmaceutical sales team? Sorry, I should have been more specific. Also, how is the benefits package? (ie 401k plan, pension?, medical) Thanks! Very appreciative!

 

[Anonymous]

Valeant has laid salespeople off in EVERY acquisition they have made in the past. Why would this one be different? If the B&L recruiters assure you it won't happen, ask them how they can be so sure. There is no way they can know what will happen. It is just speculation that might give you peace of mind but of course there is a great chance that Valeant will clean house.

 

[Anonymous]

is that in reference to the pharmaceutical sales team? Sorry, I should have been more specific. Also, how is the benefits package? (ie 401k plan, pension?, medical) Thanks! Very appreciative!

Yes, that was in reference to sales force; great benefits; full medical, dental, vision-all bandl prescriptions $0 at pharmacy; best 401k I've ever seen (2.5 match); no pension unfortunately.

 

[Anonymous]

The 401k is at 2 times match not 2.5. Which is still awesome and unfortunately going away with valeant.

 

[Anonymous]

Easy Answer. There will be layoffs to the sales force. It is Valeant. That is what they do. Snakes bite, Bees sting, Valeant lays off. It is their nature. Can't be helped.

 

[Anonymous]

When you say 2 times match, does that mean if I contribute 10k B&L will will contribute 20k?

 

[Anonymous]

When you say 2 times match, does that mean if I contribute 10k B&L will will contribute 20k?

What is the difference? It is going away anyways so there is no need to worry about it.

 

[Anonymous]

Just curious. I've neer heard of a company with that rate of match before.

 

[Anonymous]

Up to 5% of your pay they will contribute $2 for every $1 you put in. So if you make $100k and put in $5k they will put in $10k. Too bad it's all down the drain in a couple months. Oh well it was good while it lasted.

 

[Anonymous]

All this talk about 401(k) match ignores the vesting schedule. Yes, they put in all that money, but it vests over time. The match is not yours until vested (after 3 years?).

Let's hope they negotiate this as part of our exit package (i.e vest all outstanding "unvested" money - tough, but some companies have done that).

 

[Anonymous]

That's because the people that have been here a while ARE vested-and I signed on for 2.5

 

[Anonymous]

Putting aside the 401 k, I think the advice is that the change is going to suck and not be a positive. Everyone that has been here awhile is going to be miserable because we are going to be in a worse position than we are in now and nobody likes negative movement. It will be a ratship with everyone looking for the first life raft they can find.