Cut and Layoff Candidates

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I'm a contractor at legacy Schering, and I just heard this morning that my contract is not being renewed at the end of the month. I suspect many more in our department also got the call.
 






Anonymous said:
I'm a contractor at legacy Schering, and I just heard this morning that my contract is not being renewed at the end of the month. I suspect many more in our department also got the call.
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don't worry, they'll be opening up call centers soon. You will be the first to be contacted for the new position.
 
























Anonymous said:
Well, Contract workers aren't considered part of the pool for cuts so, my guess is just like the last time, anyone and everyone.

I also heard cuts to research and home office to be conducted by the end of June.

It will be a bloodbath. All too sad-
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Especially if that SGP pipeline turns out to be a big bag of nothing.
 
























Probably the entire Saphris sales force. The drug is just a pain in the ass and no one wants to use it becuase patients seem to hate the taste and mouth numbing effect. Entire sales force gone by years end.
 






Anonymous said:
Probably the entire Saphris sales force. The drug is just a pain in the ass and no one wants to use it becuase patients seem to hate the taste and mouth numbing effect. Entire sales force gone by years end.
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Too bad not sooner, so that all the former SP reps could get the Schering severance package. After November, Merck will pay out an inferior package.
 






Former S-P employees get a pretty good deal under the reverse merger agreement. But how much worse is the Merck severance than the severance due to change of control terms that lapse in November? Does it still make sense to keep people that are likely to eventually be terminated (and not due to poor performance) on the payroll for 9 more months? It is a factor, no doubt, but why wouldn't this mass migration be forced 12 months ago to save even more cash? Are we sure that even armed with their comfort-providing spreadsheets and timetables, those that are calling the shots have true vision for future success? Do we see any synergy from the combined workforce? It seems that only dismal Merck morale has been successfully spread across the combined work force.
 






Layoffs will happen for sure...Merck is being strategic, as layoffs can be a negative signal to Wall St. (i.e., "we are not doing well, and can only make our numbers by continuing to cut costs"). So, that, as well as whatever savings there is to wait until the Schering severance package expires, plays a part in all of this.
 






The above poster calls it like it is,
i.e.
In order to avoid media, etc., the co. will most likely wait until after December 2011
when the watered down severance plan & lower cost to the co. becomes effective for all employees.
 






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