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Bye bye Sumitomo

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anonymous said:
Typical Sumitomo playback…trigger WARN act second week of January. 60 day notice to employees. Let Aptiom sales for go…consolidate Gemtesa sales force. Reduce everything else by 30-40%. Legal and HR already did the DEI checks. Everyone being let go has already been chosen. Close out FY23 with huge losses. Start FY24 fresh with new low forecasts for products.

Thank leadership for the gift that keeps on giving…poor leadership, me too products, too many leaders, no vision. Etc.

Happy Holidays.
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how reliable is this info?
 
























anonymous said:
So you got some more optimistic news? I didn’t think so. The well is dry. There is nothing good happening to justify supporting the current manpower as we know it. Japan does not want to ruin the US Christmas spirit so reorg announcement will be made mid/late January.
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This is correct. They got beat up years ago for doing a December layoff and they won’t do that again.

It’s going to be enterprise wide. ULO, Aptiom, Omnichannel, Market Access, R&D, etc. my guess…a third gone.

Mullet ran Sunovion commercial into the ground. Doubt there will be anything left, thank her. She will be sitting on her throne in Canada with her VP and will go down as the worst CCO of all time. Should be gone but will survive.

R&D built for psych assets that can’t find themselves anymore. Gone.

Gemtesa can’t compete with Mybetriq, the gave it away. Gone.

Aptiom…old, expensive, no new tactics. Gone.

Latuda hitting half its forecast…gone.

Also, way too many VP’s. Not a typical Japanese Pyramid. More like an upside down Pyramid of all VPs. Gone.

Oh…merry Christmas…Sumitomo…the gift that keeps on giving.
 








anonymous said:
Nice try but the line you are casting is baitless. Your Latuda piece killed your credibility and totally exposed you as BS.
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I don’t call bullshit. Latuda went generic in January and Sumitomo expected $150M in their IR reports and looks like they are bringing in about 20% of that. $100M of revenue loss to a now $500 million company won’t pay a lot of bonuses.

Guarantee those severance packages are a little light for Christmas!
 




Yeah the writing is on the wall here folks. Cuts continue to happen. They did away with any gifts from management. Watch our lunch budget will be cut next along with so many others. Meetings have been cancelled. Those running this company are bleeding it dry.
 




anonymous said:
I don’t call bullshit. Latuda went generic in January and Sumitomo expected $150M in their IR reports and looks like they are bringing in about 20% of that. $100M of revenue loss to a now $500 million company won’t pay a lot of bonuses.

Guarantee those severance packages are a little light for Christmas!
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Disgruntled troll who got butt whipped by company.
 




























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