Can BMS be salvaged?

[anonymous]

The ship has been sinking for a while now. People are trying to get their crumbs before it hits bottom. For me, since we returned to office after the lock down, PPK has felt like a never ending wake. Covid probably slowed the descent a bit, but it's fall has quickened over the past year or so.

Agreed. There was a marked change throughout all of 2023 that was palpable in the building. Knowing what we know now, I might say it was the sense of impending doom - some people knew it was the beginning of the end. It was a horrific year last year and things are only getting worse each day.

 

[anonymous]

Chris B is just a bad CEO. And Gio before him. Had we retained Murdo G & Anthony M, we would be kicking ass by now. Look at how well Amgen & Genmab are doing. Ridiculous how we got rid of such good leadership. Now we have Lurch, Hochy & a cabal of dumbasses,

 

[anonymous]

Any word on when the cuts will come and which functions affected?

 

[anonymous]

Gio is still calling the shots

 

[anonymous]

Gio only left the CEO position so he wouldn’t be the CEO that moved BMS into the end times. This company will be sold in 3 years when the stock price hits 30 and market cap hits roughly 60 billion.

 

[anonymous]

Any word on when the cuts will come and which functions affected?

Cuts rumored to be April end. All functions. Commercial will be slaughtered

 

[anonymous]

Cuts rumored to be April end. All functions. Commercial will be slaughtered

Not exactly a rumor. Management of many divisions have said layoffs and reorganizations would be announced in April/May, company wide. They only transparency is that it’s coming and expect more as part of the 2023-2025 plan.

 

[anonymous]

Thinking end of summer early fall for CV

 

[anonymous]

With so many changes happening at the mercy of McKinsey, can BMS move up from here?
Any optimists about the future? Or will the damages be too far gone to repair?

It's cooked, it's done. It's almost as if the company is being destroyed on purpose.

 

[anonymous]

Any word on when the cuts will come and which functions affected?

NJ WARN notification is April 22. Mark that day in your calendar. That’s the beginning - look it up there are monthly BMS WARN notifications throughout the year

 

[anonymous]

salvaged? no, too forgone. looted, and picked to the bone? that’s why you call McKinsey

 

[anonymous]

Cuts rumored to be April end. All functions. Commercial will be slaughtered

Will they trim the fat in derm

 

[anonymous]

They need to trim Derm for sure

 

[anonymous]

They need to trim Derm for sure

They need to trim managers of managers aka director, senior director etc etc .. in short the leadership team that has led to this situation!!! Slaughter from the top

 

[anonymous]

NJ WARN notification is April 22. Mark that day in your calendar. That’s the beginning - look it up there are monthly BMS WARN notifications throughout the year

Does anyone know whether the posted 75 lay offs is for the entire year or just April 22? There are lots of dates there.

 

[anonymous]

Does anyone know whether the posted 75 lay offs is for the entire year or just April 22? There are lots of dates there.

The layoffs are going to just keep going for 2024 and 2025. Have you seen the slide of the HUGE dip in the very uplifting slide? At least it is transparent..every division will be cut. Heme/Onc maybe this year, derm, CV one cut this year. A lot next year. Just some hunches but pretty easy if you look at patent expirations and revenue coming in, Expected revenue to be lost. I have a friend selling only Eliquis (hospitals). I was like so your plan is to stay and get a severance? There is no plan forward for him at BMS. Eliquis expires. No drug to sell after

 

[anonymous]

No future in this job- I'm 39 years old and have to find a new gig. So I go to another company and go through this again with them in year. Time to fluff out my royal crest-dry up the beak, square out the shoulders. It's time to get out of the heavens and re direct ourselves out of this mess.

 

[anonymous]

Will they trim the fat in derm

dals need to go, that’s a good chunk of fat, some rmks? Half the managers would save a chunk and we’d see no drop in sales, those are the no Brainer cuts

Would be big mistake to cut the overlay reps, so they’ll probably cut them

and no I’m not a rep. It’s just sad to see how these things play out, with folks following conventional thinking and formulas, when such conventional thinking led us to where we are now

And if they roll back the overlays that will send the message to the outside world that this is the beginning of the end

 

[anonymous]

The layoffs are going to just keep going for 2024 and 2025. Have you seen the slide of the HUGE dip in the very uplifting slide? At least it is transparent..every division will be cut. Heme/Onc maybe this year, derm, CV one cut this year. A lot next year. Just some hunches but pretty easy if you look at patent expirations and revenue coming in, Expected revenue to be lost. I have a friend selling only Eliquis (hospitals). I was like so your plan is to stay and get a severance? There is no plan forward for him at BMS. Eliquis expires. No drug to sell after

Yes…the in famous mountain slide. A few more years of pain.

Hope your friend in Eliquis at least gets a good severance. Eliquis propped up this company for years.

 

[anonymous]

dals need to go, that’s a good chunk of fat, some rmks? Half the managers would save a chunk and we’d see no drop in sales, those are the no Brainer cuts

Would be big mistake to cut the overlay reps, so they’ll probably cut them

and no I’m not a rep. It’s just sad to see how these things play out, with folks following conventional thinking and formulas, when such conventional thinking led us to where we are now

And if they roll back the overlays that will send the message to the outside world that this is the beginning of the end

How did it get so top heavy at BMS? So many directors, and directors of directors. It seems people got promoted as a means for retention.