End of the pension plan.. This company is going to lose good people over this

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Anonymous

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I have been at this company a long time and have made it through a number of layoffs. I have stayed loyal to AGN over the years because they have treated us good in that time. This latest round of layoffs and cutback's (Endurance) is showing me how little AGN cares about long standing quality employees and how much they care about upper managements perks. We will lose good people over this and it is a shame.
 




Anonymous said:
I have been at this company a long time and have made it through a number of layoffs. I have stayed loyal to AGN over the years because they have treated us good in that time. This latest round of layoffs and cutback's (Endurance) is showing me how little AGN cares about long standing quality employees and how much they care about upper managements perks. We will lose good people over this and it is a shame.
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I have to agree with you but in reality what company even offers a pension plan anymore. We have been fortunate. Like you I have been here for over 25 yrs and this place is quickly losing sight of the employee. Do they even realize the $hit this entire VRX debacle has put on employees??? Very sad to see this here.
 




Anonymous said:
I have to agree with you but in reality what company even offers a pension plan anymore. We have been fortunate. Like you I have been here for over 25 yrs and this place is quickly losing sight of the employee. Do they even realize the $hit this entire VRX debacle has put on employees??? Very sad to see this here.
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I'm sorry to say it, but this is absolutely the truth. Pension plans are a thing of the past. If you wanna retire nowadays, you're on your own.
 




Newer employee here, when did they stop offering the pension plan to new hires? I know a bunch of other companies on our space still offer a pension plan and 401k. I think J&J, Abbott and Pfizer still do. It certainly is a thing of the past. Consider yourself lucky you were born when you were to take advantage of the many benefits you've accrued over the people that have entered the workforce that past 10 years.
 




It's been 9 or 10 years since the pension plan was even offered. While it was a great perk many of us that had more than 10 years to retirement had the realisitc outlook that it was unlikely that the pension plan would exist in the same form by the time we were of retirement age. In the meanwhile the new 15% SIP deferment is a pretty good deal! Max it out and move on.
 




Agn could have chosen to be different and honored their commitment to these legacy employees but they didn't. The almighty dollar and what it does for those at the top has once again superseded what should have been done and right. I bet the people at the top would be going ape crazy if you took away their golden parachutes.
 




Anonymous said:
Agn could have chosen to be different and honored their commitment to these legacy employees but they didn't. The almighty dollar and what it does for those at the top has once again superseded what should have been done and right. I bet the people at the top would be going ape crazy if you took away their golden parachutes.
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Don't we as stakeholders have a say ?
 




Some of these employees, specifically in sales, who have been with the company over 15 years:

1. won't leave because where else could they work 2 hours a day.
2. are making obscene amounts of base salary
3. won't accept that the industry has changed and keeps fighting to keep the old pharma model.
4. lazy and feel entitled.
5. don't like it when a new rep gets hired and runs circles around them.
6. complacent. Why work hard, they won't fire me?
 




Anonymous said:
Some of these employees, specifically in sales, who have been with the company over 15 years:

1. won't leave because where else could they work 2 hours a day.
2. are making obscene amounts of base salary
3. won't accept that the industry has changed and keeps fighting to keep the old pharma model.
4. lazy and feel entitled.
5. don't like it when a new rep gets hired and runs circles around them.
6. complacent. Why work hard, they won't fire me?
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You must be a new rep. Who"runs circles" around your older reps..... Yeah right. I've seen the younger reps come out with guns blazing only to get their feelings hurt when they realize they are not making a difference. Go back to your basement and yell at your mom to make more meat loaf you moron!
 




Anonymous said:
You must be a new rep. Who"runs circles" around your older reps..... Yeah right. I've seen the younger reps come out with guns blazing only to get their feelings hurt when they realize they are not making a difference. Go back to your basement and yell at your mom to make more meat loaf you moron!
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"Mom, Can You Get Me Some More Meatloaf...And A Beer?"
 




Oh my god,,, a sacred cow that 90% of the company doesn't get anyway!!!

It's not like there's a reason for any of this, life is good right? Things are easy.

Don't be so selfish people
 




I hope you all like Working for VRX until you get your pink-slips from them. B&L reps will be selling our products. enjoy your last few weeks of selling in ophthalmology.
 




Anonymous said:
You must be a new rep. Who"runs circles" around your older reps..... Yeah right. I've seen the younger reps come out with guns blazing only to get their feelings hurt when they realize they are not making a difference. Go back to your basement and yell at your mom to make more meat loaf you moron!
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No- 7 years which by most standards- I am a seasoned rep.
 




Anonymous said:
Some of these employees, specifically in sales, who have been with the company over 15 years:

1. won't leave because where else could they work 2 hours a day.
2. are making obscene amounts of base salary
3. won't accept that the industry has changed and keeps fighting to keep the old pharma model.
4. lazy and feel entitled.
5. don't like it when a new rep gets hired and runs circles around them.
6. complacent. Why work hard, they won't fire me?
Click to expand...

20 years of carrying a bag for Allergan. I have made leadership over 80% of my years here. My call average with signatures (for you babies that means I actually saw the doctor and did not lie about it with a "detail only") is and always has been the highest in my district and one of the highest in the region. My salary is capped, so i dont get raises. New reps are brought in at the same salary base or more. I have not had a promotion in 15 years because I made SSE way back then. Oh yeah, back when we had to DO SOMETHING to earn it. I have adapted well to all changes except being overly aggressive and pushy with my accounts. Where has that gotten me? Still in leadership. Where has that gotten my pod mates, district mates and manager? Kicked out of many practices, so I am the workhorse for them in those top 10 -12 accounts where they have no access at all. I work very smart, there is no need to run in circles! I know what days and times I get the best access with my key docs. Sometimes that is at 7 am before seeing post ops. Sometimes it is at lunch, and sometimes at 5:30. Dont be jealous because I formed a relationship at a time when we could. That I know his wife and kids. Yes, it is sometimes an advantage. You could do it too if you would take a different approach and bring value to the account instead of continually asking for the next ten scripts. How juvenile and ridiculous that you cannot have an intelligent conversation about the disease state where you discuss the best opportunities for success for HIS (or her) patients-NOT how writing another script a week might help YOU and your boss get to Hawaii!
And through all of this and all my years of making money for this company, launching drugs you never heard of, you and your snotty little nose want me to do without what was promised me? I did not have a 401k plan the first years here-there was no such thing. We got pensions. Not as good as the modern day 401k-not as much opportunity for growth, but again, all we had. So shut up with your complaining and accusations of me and my colleagues. If it werent for OUR success early on, you wouldn't be here! This company would not have the money it does- or should I say did!
 




Anonymous said:
20 years of carrying a bag for Allergan. I have made leadership over 80% of my years here. My call average with signatures (for you babies that means I actually saw the doctor and did not lie about it with a "detail only") is and always has been the highest in my district and one of the highest in the region. My salary is capped, so i dont get raises. New reps are brought in at the same salary base or more. I have not had a promotion in 15 years because I made SSE way back then. Oh yeah, back when we had to DO SOMETHING to earn it. I have adapted well to all changes except being overly aggressive and pushy with my accounts. Where has that gotten me? Still in leadership. Where has that gotten my pod mates, district mates and manager? Kicked out of many practices, so I am the workhorse for them in those top 10 -12 accounts where they have no access at all. I work very smart, there is no need to run in circles! I know what days and times I get the best access with my key docs. Sometimes that is at 7 am before seeing post ops. Sometimes it is at lunch, and sometimes at 5:30. Dont be jealous because I formed a relationship at a time when we could. That I know his wife and kids. Yes, it is sometimes an advantage. You could do it too if you would take a different approach and bring value to the account instead of continually asking for the next ten scripts. How juvenile and ridiculous that you cannot have an intelligent conversation about the disease state where you discuss the best opportunities for success for HIS (or her) patients-NOT how writing another script a week might help YOU and your boss get to Hawaii!
And through all of this and all my years of making money for this company, launching drugs you never heard of, you and your snotty little nose want me to do without what was promised me? I did not have a 401k plan the first years here-there was no such thing. We got pensions. Not as good as the modern day 401k-not as much opportunity for growth, but again, all we had. So shut up with your complaining and accusations of me and my colleagues. If it werent for OUR success early on, you wouldn't be here! This company would not have the money it does- or should I say did!
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Maybe they should discontinue YOUR 401k???
 




Anonymous said:
20 years of carrying a bag for Allergan. I have made leadership over 80% of my years here. My call average with signatures (for you babies that means I actually saw the doctor and did not lie about it with a "detail only") is and always has been the highest in my district and one of the highest in the region. My salary is capped, so i dont get raises. New reps are brought in at the same salary base or more. I have not had a promotion in 15 years because I made SSE way back then. Oh yeah, back when we had to DO SOMETHING to earn it. I have adapted well to all changes except being overly aggressive and pushy with my accounts. Where has that gotten me? Still in leadership. Where has that gotten my pod mates, district mates and manager? Kicked out of many practices, so I am the workhorse for them in those top 10 -12 accounts where they have no access at all. I work very smart, there is no need to run in circles! I know what days and times I get the best access with my key docs. Sometimes that is at 7 am before seeing post ops. Sometimes it is at lunch, and sometimes at 5:30. Dont be jealous because I formed a relationship at a time when we could. That I know his wife and kids. Yes, it is sometimes an advantage. You could do it too if you would take a different approach and bring value to the account instead of continually asking for the next ten scripts. How juvenile and ridiculous that you cannot have an intelligent conversation about the disease state where you discuss the best opportunities for success for HIS (or her) patients-NOT how writing another script a week might help YOU and your boss get to Hawaii!
And through all of this and all my years of making money for this company, launching drugs you never heard of, you and your snotty little nose want me to do without what was promised me? I did not have a 401k plan the first years here-there was no such thing. We got pensions. Not as good as the modern day 401k-not as much opportunity for growth, but again, all we had. So shut up with your complaining and accusations of me and my colleagues. If it werent for OUR success early on, you wouldn't be here! This company would not have the money it does- or should I say did!
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Very well said. I was the original poster. Did not want to create a full on battle here but I did want to vent my own frustration at what this meant to some of us. You are right it was a promise that has just been broken. The winners are those who did not have a pension plan. If you had a pension welcome to redistribution of wealth. Sad days at Allergan for the old timers.
 




This new "enhanced" plan is robbery. Making it sound so good that they are increasing the match by 25% yet you won't see the money for 12 months or maybe not at all if you decide to leave. Any financial person would tell you, that's not a good deal and as much as I used to like Pyott, I'm losing my confidence. He isn't doing anything good for stock holders by not paying dividends and even less for his employees.
 




Original poster here. The higher ups have got to look at a profit sharing component to the comp plan if they want to be "competitive" in the market place. I think being able to buy stock at a discount or options would be fine. Give us more of a reason to look after each and every dollar that is spent. I think in the long run the company would be better off and each and every employee would be better stewards of Company money. Just sayin.
 












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