Coronavirus Layoffs

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anonymous said:
This. I made p-club and got the hell out of pharma before I turned 26. I didn't go back to school and was able to completely change careers while making more than I ever did in pharma. If you're young and/or willing to teach yourself valuable skills there's no time like the present. There's life after pharma but it takes a ton of work and networking to get there.
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Absolutely. It is there for you if you are young, want it and GO AFTER it. But no future here or in this industry.
Party over.
 






CONFIRMED: Pharm Sector announcement Thursday PM. Furlough of all field based reps effective Friday May 1. 50% hours and 50% salaries for May and June. There has been enough feedback and interaction with HCPs to understand that even as states 'open' up access will be limited so the decision has been taken to make this move for the next two months.Company vehicles will be kept. 100% of benefits paid by the company. Quarterly Bonus payouts will be fixed at 60% of plan-regardless of 'performance' since there has been no impact on HCPs. Extension of this furlough will be reconsidered by mid-June
 






anonymous said:
CONFIRMED: Pharm Sector announcement Thursday PM. Furlough of all field based reps effective Friday May 1. 50% hours and 50% salaries for May and June. There has been enough feedback and interaction with HCPs to understand that even as states 'open' up access will be limited so the decision has been taken to make this move for the next two months.Company vehicles will be kept. 100% of benefits paid by the company. Quarterly Bonus payouts will be fixed at 60% of plan-regardless of 'performance' since there has been no impact on HCPs. Extension of this furlough will be reconsidered by mid-June
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Just pharm? Med device or consumer? Managers or just reps?
 












anonymous said:
CONFIRMED: Pharm Sector announcement Thursday PM. Furlough of all field based reps effective Friday May 1. 50% hours and 50% salaries for May and June. There has been enough feedback and interaction with HCPs to understand that even as states 'open' up access will be limited so the decision has been taken to make this move for the next two months.Company vehicles will be kept. 100% of benefits paid by the company. Quarterly Bonus payouts will be fixed at 60% of plan-regardless of 'performance' since there has been no impact on HCPs. Extension of this furlough will be reconsidered by mid-June
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Seems generous given what is going on.
 












anonymous said:
CONFIRMED: Pharm Sector announcement Thursday PM. Furlough of all field based reps effective Friday May 1. 50% hours and 50% salaries for May and June. There has been enough feedback and interaction with HCPs to understand that even as states 'open' up access will be limited so the decision has been taken to make this move for the next two months.Company vehicles will be kept. 100% of benefits paid by the company. Quarterly Bonus payouts will be fixed at 60% of plan-regardless of 'performance' since there has been no impact on HCPs. Extension of this furlough will be reconsidered by mid-June
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So is that 50% salary, or 25% salary (50% of halftime)? Nice to have full med and car though. Agree, sounds generous and a bit hard to believe.
 






If salary is annualized $80k annually, you will be paid as if your salary is $40k, and expected to do remote outreach to your HCPs (like you're currently doing), attend regular calls and training as needed, etc for 2.5 days/week. Many other pharm groups are doing this as well. You are eligible for unemployment under this scenario, including the additional COVID $600/week.
 
















































anonymous said:
You don’t get paid if you are furloughed. Even 50%. Stop stirring up trouble.
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Not true. Multiple family members in hospitality industry furloughed, getting paid a % off salary + benefits and companies are allowing them to file for (and are paying) unemployment benefits + eligible for the $600 weekly COVID.
 






anonymous said:
Not true. Multiple family members in hospitality industry furloughed, getting paid a % off salary + benefits and companies are allowing them to file for (and are paying) unemployment benefits + eligible for the $600 weekly COVID.
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A lot of my friends have been furloughed and they got zip. No % of salary and no benefits. Only eligible for unemployment.
 






my wife works for small pharma. In april she was cut to 40% salary and 2 days a week-virtual calls only through at least through May. Has rec'd her state bennies plus the $600. I think it depends on the state
 












Although this scenario does make sense and is generous, JNJ has never been a trailblazer and such a decision would be among the first in Big Pharma to make reductions. Perhaps this is a long term plan- I don't see this coming down tomorrow. JNJ will follow suit with the likes of GSK PFZ & AZ. With a potential vaccine on the way that will need a sales force and an early layoff scenario could disrupt plans for sales training etc. Xarelto thromboprophylaxis /medically ill still needs promotion in PCP, CV & HOSP

As for the DM's - they don't know anything. ever. they border on useless and thinning them out would save the rest of our jobs.
 






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