It is unclear to most as to whether or not Bard’s consolidation and restructuring will amount to anything other than even more monies for the aged board members. Imagine if you will this type of scenario which may have already begun:
With a $20 million dollar project to eliminate duplicity and redundancy, key areas of focus start with employees 50+ years old. Phase I includes restructuring and consolidation of Admin, Operations and IT departments across the corporation. The IT organization will downsize and align better with the business sector by creating jobs for business analyst and business managers, while the infrastructure seeks to consolidate services and resources to a central location. Admin functions in Finance and Operations will also be trimmed while Bard works to consolidate functions to a central location.
The concept of consolidation and reduction to a central facility in New Jersey is not a new one at Bard. It was back in 2001, retiring Board Members looked at the idea and almost became a reality when Tyco stepped in with an offer so great, the board members couldn’t resist. With the concept to centralize now off the table, investors and board members focused their efforts in selling Bard to Tyco. News of Tyco’s President and misuse of company funds sent stock prices so low that Bard board members pulled out of the deal. With no way to line their pockets with hefty egg nests, board members focused their efforts into becoming a stronger player in the medical device sector.
Loyalty in Bard has many faces. History has shown that when it comes to retiring and money, less of it is seen from the top.
With a $20 million dollar project to eliminate duplicity and redundancy, key areas of focus start with employees 50+ years old. Phase I includes restructuring and consolidation of Admin, Operations and IT departments across the corporation. The IT organization will downsize and align better with the business sector by creating jobs for business analyst and business managers, while the infrastructure seeks to consolidate services and resources to a central location. Admin functions in Finance and Operations will also be trimmed while Bard works to consolidate functions to a central location.
The concept of consolidation and reduction to a central facility in New Jersey is not a new one at Bard. It was back in 2001, retiring Board Members looked at the idea and almost became a reality when Tyco stepped in with an offer so great, the board members couldn’t resist. With the concept to centralize now off the table, investors and board members focused their efforts in selling Bard to Tyco. News of Tyco’s President and misuse of company funds sent stock prices so low that Bard board members pulled out of the deal. With no way to line their pockets with hefty egg nests, board members focused their efforts into becoming a stronger player in the medical device sector.
Loyalty in Bard has many faces. History has shown that when it comes to retiring and money, less of it is seen from the top.