Bye bye Sumitomo

Quote
anonymous said:
This is a sinking ship... If my division was being let go at any point this year I'd make zero effort to find another opening in this organization in an attempt to stay on. I don't see any obvious path to profitability; seems to me a lot of bad decisions at the top combined with FAR too many employees in management/leadership roles that create zero revenue.
Click to expand...
Noted. Thanks for validating the shit show.
 
















anonymous said:
This is a sinking ship... If my division was being let go at any point this year I'd make zero effort to find another opening in this organization in an attempt to stay on. I don't see any obvious path to profitability; seems to me a lot of bad decisions at the top combined with FAR too many employees in management/leadership roles that create zero revenue.
Click to expand...

With the Cell therapy/RACMO news of creating a new separate company being made public earlier this week with the Sumitomo Chemical press releases and earnings reports, I hope they are ready for people heading for the exits this summer. This is the 4th reorg or semi-reorg in 18 months
 




















anonymous said:
How cane they cut 100 billion yen in costs without major reductions.
Click to expand...

130 yen = almost 2 billion USD! There is no more money!!! When LTI is paid out the open positions will be through the roof! There are reps that left that they still have their names on the ranking report so it doesn’t look like a lot of openings.
 




anonymous said:
130 yen = almost 2 billion USD! There is no more money!!! When LTI is paid out the open positions will be through the roof! There are reps that left that they still have their names on the ranking report so it doesn’t look like a lot of openings.
Click to expand...

100 billion Yen = about $650M USD. Do a simple google conversion search you’re not even close. Is that number inclusive from the March staff cuts, cuts to R&D programs and what is transitioning to Otsuka? Is it over multiple years?
 








anonymous said:
Company needs to file WARN reports of #’s of laid off employees by state or face steep fines… and these states are getting the unemployment assistance requests so they know and gearing up for the fines. So many states like MA and CA are desperate for revenue and having major budget shortfalls. We can’t afford multi-million dollar F-ups because the HR staff from the Vants are inexperienced.
Click to expand...
 




anonymous said:
Company needs to file WARN reports of #’s of laid off employees by state or face steep fines… and these states are getting the unemployment assistance requests so they know and gearing up for the fines. So many states like MA and CA are desperate for revenue and having major budget shortfalls. We can’t afford multi-million dollar F-ups because the HR staff from the Vants are inexperienced.
Click to expand...
 




anonymous said:
Company needs to file WARN reports of #’s of laid off employees by state or face steep fines… and these states are getting the unemployment assistance requests so they know and gearing up for the fines. So many states like MA and CA are desperate for revenue and having major budget shortfalls. We can’t afford multi-million dollar F-ups because the HR staff from the Vants are inexperienced.
Click to expand...
 




anonymous said:
Company needs to file WARN reports of #’s of laid off employees by state or face steep fines… and these states are getting the unemployment assistance requests so they know and gearing up for the fines. So many states like MA and CA are desperate for revenue and having major budget shortfalls. We can’t afford multi-million dollar F-ups because the HR staff from the Vants are inexperienced.
Click to expand...

This may have been highlighted in other follow up posts, and if so pardon the repitition, but avoiding the requirement for such reporting and state regulations related to employee layoffs appears in retrospect to have been one key business reason for creating SMPA by combining the multiple smaller subsidiaries with Sunovion.

The reporting requirements are often triggered by the percentage of employees impacted by reorganization layoffs. While the March 4th announcement would have comprised a very high percentage of remaining Sunovion employees prior to the creation of SMPA (triggering numerous reporting requirements and state regulatory impacts), it was just under 24% of SMPA employees based on information about the number of employees (total and impacted) included in recent press releases and financial presentations.

An example of successful strategic planning for a more straightforward and generic aspect of the business that contrasts with the much more dynamic, challenging, and multidimensional strategic thinking and planning required for success in Pharma.
 








What exactly has the ELT been doing for the last 12 months? There is no real strategy for the brands we have left. The metrics used to develop our ‘plan’ are so bad! The leadership team seems to be using a primary care play book. Is Adele spending all of her time asking Pfizer what we should do so she can get them to buy our brands? Someone please enlighten us.
 








anonymous said:
What exactly has the ELT been doing for the last 12 months? There is no real strategy for the brands we have left. The metrics used to develop our ‘plan’ are so bad! The leadership team seems to be using a primary care play book. Is Adele spending all of her time asking Pfizer what we should do so she can get them to buy our brands? Someone please enlighten us.
Click to expand...
12 months? You have a very small sample size pal. ELT been incompetent for many years.
 




Top Bottom
Back
Quote