Celgene Layoffs to be Massive!!!

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anonymous said:
Just wait until BMS HR takes a look at the salaries for managers & reps. Then they will look at resumes filled with PE degrees from crappy kolleges. Game over!
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Not just the field! HQ marketing market access, all the global teams the list goes on and on. It was a good run, now it’s time to turn out the lights in Summit!
 
















anonymous said:
You seriously need to look at the Q&A sheet we were sent and realize it states "until closing", your base, commission and benefits will stay the same. Nothing in there about AFTER merger!
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Right... but I’d they significantly change the terms of your employment, you are entitled to a severance package. I.e. you don’t have to accept the employment if they significantly change your territory, you can opt for the severance.
 








anonymous said:
ZS associates guy here who is called in during reorganization and M & A efforts. To be clear, I'm not involved/contracted for this deal.

I can tell you in other deals I've done there is a common theme affecting the acquired:

Managed care teams first to go
Research last to go
Field employees (managers,reps,other) with a base salary 150k or higher first to go.
Buildings/material assets take 1.5 years to shop off.
Companies try to seal the deal quick as they know employees will fart around. You can bet deal is done 2q not 3q. They must provide a mass layoff [WARN] act 60 days prior to your last day.

Tip- if you feel you are at risk and get an offer elsewhere, don't deny and wait for severence. Accept the job, call HR and ask for an "accelerated separation agreement". You can still get the other job and your severence. Believe me, they want people off the books voluntarily, call it hush money.

Feel free to post any questions....and to clear up rumors, Merck let 72% of SP employees go in that deal.

If you stay on, read your benefits wisely! Legacy BMS reps will have their same modeling and you might have a post merger version B which is not the same.

Read the fine print, not here on CP but from your HR department.

Good luck, you will get through this.
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They will maybe offer you a very inconvenient territory in another state, if you decline it package is gone. Also buhbye Derm, non essential, not worth keeping. Don’t say I didn’t tell you
 








anonymous said:
They will maybe offer you a very inconvenient territory in another state, if you decline it package is gone. Also buhbye Derm, non essential, not worth keeping. Don’t say I didn’t tell you
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Seriously? If you decline a territory no severance? Q&A doesn’t outline that...can you be specific? Thank you!
 








anonymous said:
Seriously? If you decline a territory no severance? Q&A doesn’t outline that...can you be specific? Thank you!
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My lawyer and I just looked into all this. Q&A and severance packet clearly outlines any material change including a change of over 30 miles from your residence to your new territory are terms to accept severance. Scary that many of my colleagues are selling based on literature they receive but can't read the severance documents posted online.
 








Will there be layoffs prior to the closing of the deal in Q3 to avoid paying the severance. Similarly, will they delay firings for more than 30 days following the closure of the deal?
Why is research last to go?
 








anonymous said:
My lawyer and I just looked into all this. Q&A and severance packet clearly outlines any material change including a change of over 30 miles from your residence to your new territory are terms to accept severance. Scary that many of my colleagues are selling based on literature they receive but can't read the severance documents posted online.
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Some of your colleagues? You needed to consult a lawyer to understand the documents. The condensending isn’t cool or necessary. This is new territory for many of us to navigate through- let’s be helpful instead of nasty
 
















anonymous said:
Some of your colleagues? You needed to consult a lawyer to understand the documents. The condensending isn’t cool or necessary. This is new territory for many of us to navigate through- let’s be helpful instead of nasty
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Yes, please don’t be nasty or condensenfing for getting kicked to the curb, ending your career, concerned on how you’ll pay your mortgage next month. You can rest peacefully knowing your cuts will support our CEO serverence by multiple millions. He will thank you later.
 








anonymous said:
Yes, please don’t be nasty or condensenfing for getting kicked to the curb, ending your career, concerned on how you’ll pay your mortgage next month. You can rest peacefully knowing your cuts will support our CEO serverence by multiple millions. He will thank you later.
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This exactly. We can all rest fine knowing this washed up marine with his shitty stories can get a few more million just as that last no lube thrust up the ass of the people below him can be used for Bruce Willis look alike acting classes.
 








anonymous said:
But Mark said at the Townhall today that most people will be retained.

He promised that we all will keep our salaries and benefits.

What are you talking about?????????
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They will say they will retain you, they never say how long.
When they are speaking they are say we will retain you today..... that does not mean tomorrow.
These C Suite types use situational ethics and shadey morality when speaking.
Its like the surgeon who says this wont hurt much, they mean its not going to be their pain.
It will hurt you - ALOT!
Get your resume activated!
 








anonymous said:
Not just the field! HQ marketing market access, all the global teams the list goes on and on. It was a good run, now it’s time to turn out the lights in Summit!
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100%- Global roles are superfluous and unnecessary, they will be gone and probably rightly so.
Marketing teams will be combined, Training collapsed into 1 group- good riddance with some of those folks.
Regions, territories restructured- it will be widespread
 
















anonymous said:
100%- Global roles are superfluous and unnecessary, they will be gone and probably rightly so.
Marketing teams will be combined, Training collapsed into 1 group- good riddance with some of those folks.
Regions, territories restructured- it will be widespread
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Speaking of training, hope HS and crew are goners! What’s she going to do with no one to intimidate and no more Celgene...lol
 








What's she going to do? She has legs. Might as well go back to spreading them. I can attest she's a force of nature in bed despite the need for a paper bag over her head.
 








anonymous said:
My lawyer and I just looked into all this. Q&A and severance packet clearly outlines any material change including a change of over 30 miles from your residence to your new territory are terms to accept severance. Scary that many of my colleagues are selling based on literature they receive but can't read the severance documents posted online.
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Just to clarify- it’s at least 30 miles more than what you currently do. For example if you work in Summit and your current commute is 10 miles from your house to the office....in order to get severance for not accepting a job with BMS at say the Princeton location, it would have to be at least 30 more miles than your current 10 mile commute.
 








anonymous said:
100%- Global roles are superfluous and unnecessary, they will be gone and probably rightly so.
Marketing teams will be combined, Training collapsed into 1 group- good riddance with some of those folks.
Regions, territories restructured- it will be widespread
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Left for another biopharma awhile ago, and glad I did.
This place was run by a clique and they ensured no one got in.
I saw how they excluded good candidates in the past.
Well karma coming back at all of you- you better hope others don't do unto you as you have done unto others
 








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