Employee Business Briefing

[Anonymous]

That was incredibly vague. Tell us what the plan moving forward will be versus holding spontaneous teleconferences each week to let colleagues go with some glimmer of hope and the rest of us hanging in limbo. That was an opportunity to enlighten employees about updates to pipeline products and strategy moving forward.

Adam...you're in a professional business position making a significant and unwarranted salary, at least put a tie on. That look of lax carelessness comes across as such.

 

[Anonymous]

ken was not happy today. i don't think i have ever seen him be so curt. as he said, today is not a good day for merck.

last week wasn't so good either.

In fact this has been a very tough year.

we waited and trained and re aligned in anticipation of how many new products? it was one bad news day after another.

Love the way he responded to the number of VP's let go --- hey I think the question was EC members Ken!!! nice dodge tho! VP's were a dime a dozen here, those were not the real direction setters, I think what was being asked if you read between the lines was "when are you guys gunna take some responsibility yourselves?"

level of trust is non existent. forget the speed of trust. the trust train is broken down on the tracks. hey oz principle injection....some one hand me a wrench maybe i fix this damn train....all aboard!!!

 

[Anonymous]

It was truly depressing. Couldn't even give a good answer to why Merck is still a good place to be.

 

[Anonymous]

That was incredibly vague. Tell us what the plan moving forward will be versus holding spontaneous teleconferences each week to let colleagues go with some glimmer of hope and the rest of us hanging in limbo. That was an opportunity to enlighten employees about updates to pipeline products and strategy moving forward.

Adam...you're in a professional business position making a significant and unwarranted salary, at least put a tie on. That look of lax carelessness comes across as such.

No plan of any kind from these guys. They all need to be held accountable for destroying this company. Onle plan is cut cut cut and control costs- doesn't build any value. Everyone can see through this fraud.

 

[Anonymous]

No plan of any kind from these guys. They all need to be held accountable for destroying this company. Onle plan is cut cut cut and control costs- doesn't build any value. Everyone can see through this fraud.

The plan is simple. We are going sigma six all the way. We will regroup by selling off, cutting, and making this a better place to work. It's called making everyone accountable. Sigma six will help with that. We now have the best consultants money can buy. No loyalty to anything or anyone. They only believe in the divine treasury. It's called capitalism at its best. They are crunching numbers as I write this.

 

[Anonymous]

Nice to see Ken emerge from his bunker - it's been WEEKS since the layoff announcrment and he graces us to report crap earnings. Damned if that layoff charge wouldn't goose us, instead it's sinking us. Wall Street finally wants growth not artifical status quo from bodies overboard.

I wonder if he'll put on his big boy pants and go hit some of the financial channels - CNBC, Bloomberg - you know, like so many of his peers do.

 

[Anonymous]

We should sharpen our focus on ... SQUIRREL!!!

 

[Anonymous]

We should sharpen our focus on ... SQUIRREL!!!

Like

 

[Anonymous]

We should sharpen our focus on ... SQUIRREL!!!

Now you're talking! Surprisingly simple yet amazingly powerful principles that we've had with us all along. The SPirit of the Squirrel, the WAy of the Beaver, and the GIft of the Goose!! How could we forget??? Dig out your books boys and girls. This will be the beginning of the NEw One Merck!! Bung HO people. Bung Ho. Oops. Better make that Gung Ho but I really do feel bung and goose have much more relevance to what we have going on at Merck today

 

[Anonymous]

The plan is simple. We are going sigma six all the way. We will regroup by selling off, cutting, and making this a better place to work. It's called making everyone accountable. Sigma six will help with that. We now have the best consultants money can buy. No loyalty to anything or anyone. They only believe in the divine treasury. It's called capitalism at its best. They are crunching numbers as I write this.

Every time I think of 6 sigma, I am reminded of Neutron Jack who literally tried to deny (I say steal) the pensions after GE bought RCA. There was a class action lawsuit by RCA employees (my dad being one of them) to get their pensions back. My dad, because of his age, got even more.

No respect for Welsh the Weisel.

 

[Anonymous]

Every time I think of 6 sigma, I am reminded of Neutron Jack who literally tried to deny (I say steal) the pensions after GE bought RCA. There was a class action lawsuit by RCA employees (my dad being one of them) to get their pensions back. My dad, because of his age, got even more.

No respect for Welsh the Weisel.

That had to do with employees not knowing what they were doing. You could cash out or take the pension. The issues was the longer you stayed the less it would be worth because of the GE conversion rate. I remember that happening. The claim was GE misrepresented its Fiduciary Duty. That was back in 1993. We now know how to put proper language in place to avoid such things. That is why we have the best consultants now.

It was never an issue about getting a pension back. It was always there. GE was trying to make money. Why should it care about RCA employees. It splintered RCA apart and made great money while doing it.

What's wrong with that?

 

[Anonymous]

That had to do with employees not knowing what they were doing. You could cash out or take the pension. The issues was the longer you stayed the less it would be worth because of the GE conversion rate. I remember that happening. The claim was GE misrepresented its Fiduciary Duty. That was back in 1993. We now know how to put proper language in place to avoid such things. That is why we have the best consultants now.

It was never an issue about getting a pension back. It was always there. GE was trying to make money. Why should it care about RCA employees. It splintered RCA apart and made great money while doing it.

What's wrong with that?

The problem is when CEOs call themselves job creators. They are not. They are leeches.

 

[Anonymous]

The problem is when CEOs call themselves job creators. They are not. They are leeches.

You must have job destruction before job creation. That is one of the rules for six sigma.

 

[Anonymous]

You must have job destruction before job creation. That is one of the rules for six sigma.

Well they've created plenty of low wage jobs for Indians, both outsourced and insourced.

 

[Anonymous]

You must have job destruction before job creation. That is one of the rules for six sigma.

Is the job destruction due to a nonexistent R&D ? Can't have job creation with no R&D.
Can't buy products or companies without investment and a force to sell them.
25 cents on every dollar reinvested means no company in existence to have six sigma rules for.
The year of upper managment arrogance caught up with them.

 

[Anonymous]

Years of MBAs telling PhDs what to do has caught up with them.

 

[Anonymous]

You just hit the nail on the head!!!.
Bean counteres should count beans- not run pharma
companies

 

[Anonymous]

Merck's current revenue per employee: $541,000 per Marketwatch today.

Can that be right?

 

[Anonymous]

The EBB revealed everything you need to know....These guys are treading water. No concrete plan....just bailing water (cutting expenses) between quarterly earnings reports while they accumulate personal wealth and waiting to see how far they can ride this horse before it drops.

"The future is what we make of it". That was code for "you are on your own".

Be well

 

[Anonymous]

Is the job destruction due to a nonexistent R&D ? Can't have job creation with no R&D.
Can't buy products or companies without investment and a force to sell them.
25 cents on every dollar reinvested means no company in existence to have six sigma rules for.
The year of upper managment arrogance caught up with them.

We don't have too many choices but to buy a pipeline now. We need something. We are going to liquidate all unused building. Price won't matter much. Cut as many people as we can. Sell off areas where we have experienced declining revenue. Cut areas where we are not making money and no one will buy. Move 90% of production to a third party. That may be temporary. We will do that to lower the cost basis when we hire new people. Remove R&D personnel all together.

That should free up 25 billion. Buy many drugs and hope we get a few big ones.

What else can we really do. We lost market share. Our revenues are declining. Our pipeline is empty. If we don't get a pipeline quick there is nothing else here. You saw our earnings today. Without a good pipeline where will we be one year from now?

You will also see Merck ask many employees to move to different states or take the package.