Don't work for Merck - CEO takes from retirees

[Merck Retiree]

For 100+ years, Merck was a great company! Prior to SP merger, the Merck pension plan was self funded and money was not an issue ever - for retiree benefits.

Merck retirees had life insurance, dental insurance and good medical insurance.

Along comes lawyer CEO Ken Farzer and Merck's support for Obama health care!

Benefit costs for retirees incraese 15+% a year.

Frazer stops dental coverage, life insurance covereage, and decreases medical insurance coverage with the claim Obama health care requires the changes!

CEO Frazer is a typical lawyer, screw who ever you can for the almighty dollar!

30 years dedication to Merck only to be screwed by CEO Frazer the remaining years on this earth!

Not to mention thousands of stock options Merck required employees to take over wage increases that are worth nothing, due to Merck's stock price lower than it ever was for 100+ years.

Great job CEO Frazer!

 

[Anonymous]

I think life insurance (free) is always only good for a few years after retirement. I am not too thrilled about not able to buy dental coverage through Merck either.

 

[Anonymous]

Nothing is what we signed up for or promised. Executives stood in front of all VP winners 5 years ago and said, and I quote, "Keep those stock options because those are what dreams are made of ". Today they are worth nothing and they will expire soon. Thanks for the dreams Merck. How can these people make millions? It's all part of the Grand Illusion.

 

[Anonymous]

Nothing is what we signed up for or promised. Executives stood in front of all VP winners 5 years ago and said, and I quote, "Keep those stock options because those are what dreams are made of ". Today they are worth nothing and they will expire soon. Thanks for the dreams Merck. How can these people make millions? It's all part of the Grand Illusion.

I had a small amount of stock options at another big pharma...same thing happened, they became totally worthless then expired..........I really feel that anyone who depends on stock options for any helpful little future payday is foolish and easily taken in by the Grand Illusion.

....We're living in a different world now....and I doubt if we'll ever go back to a thriving stock market again.

 

[Anonymous]

When did the colonel do this?

 

[Anonymous]

It's me, Debbie Downer and why are any of your entitled assholes surprised? Right now, just be glad you're getting your cushy pension and probably had 700k plus in your 401 after years with Merck. Most of us will get nothing. I just spent seven years with SP and because of the "new" plan, my bucket has about 50k and that's it. This changed from being able to get about 8k a year for life. (Not much, but better than this shit!) What a waste. However, I calculated that my CTL and a few collegues who will probably go before the big 2018 change after years at mother's teet, are going to walk off with more than 200 to 340k. All I can say is must be nice. Proof that you do not have to be smart to have money, just lucky.

 

[Anonymous]

It's me, Debbie Downer and why are any of your entitled assholes surprised? Right now, just be glad you're getting your cushy pension and probably had 700k plus in your 401 after years with Merck. Most of us will get nothing. I just spent seven years with SP and because of the "new" plan, my bucket has about 50k and that's it. This changed from being able to get about 8k a year for life. (Not much, but better than this shit!) What a waste. However, I calculated that my CTL and a few collegues who will probably go before the big 2018 change after years at mother's teet, are going to walk off with more than 200 to 340k. All I can say is must be nice. Proof that you do not have to be smart to have money, just lucky.

Just leave - I did- I left it all behind- don't need dirty money- I can make my own. Make your own money don't be a corporate whore.