February 13 town hall

[anonymous]

You BMS-lifers are just too funny. Celgene was a life preserver spackling over the deep fissures created by yers of mismanagement. Without the Revlimid $ to carry your lame asses, you would have sunk more quickly into the depth of ineptitude that seem to approach with more certainty each passing day. How many time do you need to be reminded, you sold off a multi-billion $ juggernaut for a JAK inhibitor already tattooed with a negative class halo, passed on sotatercept, squandered the commercial viability of the ozanimod MS/UC franchise, fumbled multiple launches in a variety of therapeutic categories.

There is a reason why people say “Same Old BMS” because a complete lack of innovation, and mid-90’s reach & frequency paradigm thinking. Look at the parade of clowns we’ve seen come and go over the last 5 year. If you want to see what I am saying just spend a couple of hours at PPK. Be sure to go early in the morning around 8AM. You can park anywhere you want and even roll a yoga mat out in the middle of the office because no one will arrive until 9-9:30 and when they do its down to the Starbucks for coffee and then a vigorous hour-long discussion on what they ate for dinner the night before and what they want for lunch. Around 11 the tone shifts from a busy morning of chit chat and sending 3 emails about the next POA & executive spotlights to heading downstairs for lunch. Between 11:30-1 the cafeteria is like Lollapalooza. Every kind of cubicle clown is there without a care in the world. Corporate may even have a giveaway table for everyone to help themselves to. Between 1PM - 3:30 it tends to get quiet due to the collective post-prandial spike but close to 3:45 things start to percolate. It is at this time that you better not be standing anywhere near the elevators or the stairs or risk getting run over by the swell of humanity leaving the collective stresses of the day behind.

BMS is singularly unique in it’s ability to be home to so many clock watching, passive people who have no motivation to be otherwise. In fact, they are celebrated for it. So yeah, blame Celgene for the self-inflicted crap we are experiencing. In fact, now that I think about it, Boner, Lerch & Tina were all former Celgene people right?

You must be a consultant or the spouse of an exec. There is no way that you work here. That was too well written.

 

[anonymous]

Heard the # 15% today. Don’t know if that’s right or not.

Did you hear any other details?

 

[anonymous]

Heard the # 15% today. Don’t know if that’s right or not.

No, I highly doubt it. If 15% were let go, that’d be around 5,100 employees. Take a billion divided by 5,100 employees and you’d come out to $196K each. Keep in mind that the $196K is not the employee’s salary, it’s the cost to the company (salary, bonus, expense acct, insurance, LTI, etc.). Since there’ll be a lot of senior folks impacted along w/us grunts (and they obvs cost more to the company), my guess is that it’ll be closer to 7%, maybe up to 10%. We’ll see if they ever give us the actual percentage.