GSK restructuring

[Anon]

It looks like GSK is in the process of initiating restructuring on their end. The CMO is leaving, it is her last day today, there is talk of reshaping the clinical development divisions and cutting jobs in the upcoming months. I work in discovery so I don't get to know much of what is happening in the field but after the last round of layoffs it seems like they are convinced that the way to offset lack of a pipeline is by slashing jobs. In an era where making theraflu keurig pods is now lauded as innovation, one has to question if anybody knows what they are talking about. Here are my thoughts
1. GSK will cut its job force by a significant number in the next month or so
2. They will restructure clinical development and try to move people with highly specialized expertise in one area to "area agnostic" flexibility (this is already in the works)
3. Bonus payout will be affected
4. There will be increasing push to consolidate divisions into shared upper level management. You will see people who were responsible for one section/division take over the responsibility of others ostensibly to increase "accountability" but more practically to thin the work force
5. There will be an exodus like movement out of GSK after the March bonus payout.
Thoughts?

 

[anonymous]

That is almost verbatim what Emma told me over lunch this afternoon. Were you sitting next to us at Olive Garden?

 

[anonymous]

I'm astounded enough to not know if you're being funny or serious

 

[anonymous]

Not sure if you are telling the truth or not. From my perspective however, this needed to be done decades ago. You see, those of us in field sales, the ones who actually drive profitability, the ones who are held accountable on a weekly basis (looking at sales numbers which supposedly we're not supposed to be ranked by), and the same people who have been downsized every two to three years for the past decade and a half have a hard time feeling sorry for you. There are so many layers of management and bureaucracy within this company it is astounding! You said it yourself, a Theraflu Kurig Pod?? Yet the billions of dollars in sales from life changing medications i.e. Anoro, Trelegy and Breo are met with layoffs. Even then, GSK couldn't get it right. There are still too many field managers! They work with their reps monthly and forget about the SVPs..they also work in the field with reps. How much value do you think these individuals add? I'll tell you..their ROI is negative! Each TSM makes approximately 200K and an SVP around 240K. Do you think they are worth that amount? I would love to know how much the inventor of the Theraflu K-POD makes?? I'll give you a freebee..and believe me its a billion dollar idea. Create a Vape Pen that dispenses our Elipta products. That's how easy it is to be a part of "discovery". And how much do you make???

 

[anonymous]

Not sure if you are telling the truth or not. From my perspective however, this needed to be done decades ago. You see, those of us in field sales, the ones who actually drive profitability, the ones who are held accountable on a weekly basis (looking at sales numbers which supposedly we're not supposed to be ranked by), and the same people who have been downsized every two to three years for the past decade and a half have a hard time feeling sorry for you. There are so many layers of management and bureaucracy within this company it is astounding! You said it yourself, a Theraflu Kurig Pod?? Yet the billions of dollars in sales from life changing medications i.e. Anoro, Trelegy and Breo are met with layoffs. Even then, GSK couldn't get it right. There are still too many field managers! They work with their reps monthly and forget about the SVPs..they also work in the field with reps. How much value do you think these individuals add? I'll tell you..their ROI is negative! Each TSM makes approximately 200K and an SVP around 240K. Do you think they are worth that amount? I would love to know how much the inventor of the Theraflu K-POD makes?? I'll give you a freebee..and believe me its a billion dollar idea. Create a Vape Pen that dispenses our Elipta products. That's how easy it is to be a part of "discovery". And how much do you make???

You sound angry because I asked a serious and earnest question. I was hoping to post on this message board to try and figure out if what I have been hearing about my company is true. Instead I get an asshole asking me how much money I make instead of engaging in meaningful discussion. Demeaning someone elsese work is doesn't make you more important.

 

[anonymous]

R&D is the foundation of any pharmaceutical company. Completely understood. The issue with the angry sales rep is valid. There are indeed far too many layers of bureaucracy within our organization. I am in sales and I feel my colleagues frustration. It seems that we here in the field are beaten down at every turn. It's very difficult to explain without sounding like an ingrate. The sales rep is criticle to the companies products being prescribed. Yes, managed care is equally as important but how often have you ever heard of an employee in managed markets being placed on a PIP? Downsized? Asked to ride with their boss every month for eight straight hours? Reps look at home office personnel and never quite see the value many of you bring. Please, share what you do that has made this company money..just one thing. Every day I meet with physicians and educate them..educate..not sell...them on why our products make the best choice for appropriate patients. I persuade, I encourage and I make this company money every day I am in the field. So yes, when the field is treated like $hit, we tend to question those of you who appear to add little to no value. So what do you do again? And yes, what is your salary range? And that;s why when the rubber meets the road, positions like yours are exposed...and eventually done away with. Keep those K-Pods coming.

 

[decade501]

Haha $5 billion they have to acquire more oncology, what a joke this company is

 

[anonymous]

It looks like GSK is in the process of initiating restructuring on their end. The CMO is leaving, it is her last day today, there is talk of reshaping the clinical development divisions and cutting jobs in the upcoming months. I work in discovery so I don't get to know much of what is happening in the field but after the last round of layoffs it seems like they are convinced that the way to offset lack of a pipeline is by slashing jobs. In an era where making theraflu keurig pods is now lauded as innovation, one has to question if anybody knows what they are talking about. Here are my thoughts
1. GSK will cut its job force by a significant number in the next month or so
2. They will restructure clinical development and try to move people with highly specialized expertise in one area to "area agnostic" flexibility (this is already in the works)
3. Bonus payout will be affected
4. There will be increasing push to consolidate divisions into shared upper level management. You will see people who were responsible for one section/division take over the responsibility of others ostensibly to increase "accountability" but more practically to thin the work force
5. There will be an exodus like movement out of GSK after the March bonus payout.
Thoughts?

Obviously you were on to something. Who knows now how many will be cut to cover the cost of how much they overpaid for the new oncology aquisition which to my knowledge has hardly any revenue at this point. Guess they will continue to cut from sales and R&D to cover costs for Emms's new direction for the company. Good time to get rid of your GSK stock.

 

[anonymous]

Obviously you were on to something. Who knows now how many will be cut to cover the cost of how much they overpaid for the new oncology aquisition which to my knowledge has hardly any revenue at this point. Guess they will continue to cut from sales and R&D to cover costs for Emms's new direction for the company. Good time to get rid of your GSK stock.

A good time to get rid of your stock was back when GW merged with SKB. stock was trading around $50 back then. Has never recovered has traded sideways for better part of a decade. Awful company run by awful people. Oh yes down 10% today after the big announcement. Should have gone short a few days ago.

 

[anonymous]

Not sure if you are telling the truth or not. From my perspective however, this needed to be done decades ago. You see, those of us in field sales, the ones who actually drive profitability, the ones who are held accountable on a weekly basis (looking at sales numbers which supposedly we're not supposed to be ranked by), and the same people who have been downsized every two to three years for the past decade and a half have a hard time feeling sorry for you. There are so many layers of management and bureaucracy within this company it is astounding! You said it yourself, a Theraflu Kurig Pod?? Yet the billions of dollars in sales from life changing medications i.e. Anoro, Trelegy and Breo are met with layoffs. Even then, GSK couldn't get it right. There are still too many field managers! They work with their reps monthly and forget about the SVPs..they also work in the field with reps. How much value do you think these individuals add? I'll tell you..their ROI is negative! Each TSM makes approximately 200K and an SVP around 240K. Do you think they are worth that amount? I would love to know how much the inventor of the Theraflu K-POD makes?? I'll give you a freebee..and believe me its a billion dollar idea. Create a Vape Pen that dispenses our Elipta products. That's how easy it is to be a part of "discovery". And how much do you make???

Agreed! Sales run ANY AND ALL COMPANY! those who think otherwise r the biggest idiots ever. Sales pay for any and every penny this company buys including printer paper you morons!

 

[anonymous]

Agreed! Sales run ANY AND ALL COMPANY! those who think otherwise r the biggest idiots ever. Sales pay for any and every penny this company buys including printer paper you morons!

1980's thinking. Will probably get you and your tired rep friends the pink slip. With the OIG giving out multi-hundred million dollar consent decrees for rouge field tactics and inducements...you can bet that the compliance team now runs the company. Lawyers rule...no more free lunch for you clowns making a lot of noise and working 12 hours a week.

 

[anonymous]

Agreed! Sales run ANY AND ALL COMPANY! those who think otherwise r the biggest idiots ever. Sales pay for any and every penny this company buys including printer paper you morons!

Is that why they laid off 650 people in sales and purchased a company with a new asset? and if you believe what you are saying you should be looking for a new job yesterday since sales are the hardest hit in this fracas.

 

[anonymous]

You don't have to be a genius to see that GSK is doing away with both Consumer and it's Primary Care Sales divisions. If you are in consumer, you will be receiving a pink-slip within the next 12 months. If you are selling the Elipta line, you have a little less than two years. These plans have already been drawn up. 2020 is the date by which you will see this all take place. It's been said by Emma in so many words. You just have to open your eyes. Not trying to scare anyone. I am as frustrated by the decisions as you all. Enjoy the holidays and start looking in January. You will be doing yourself and you family a huge favor.

 

[anonymous]

You don't have to be a genius to see that GSK is doing away with both Consumer and it's Primary Care Sales divisions. If you are in consumer, you will be receiving a pink-slip within the next 12 months. If you are selling the Elipta line, you have a little less than two years. These plans have already been drawn up. 2020 is the date by which you will see this all take place. It's been said by Emma in so many words. You just have to open your eyes. Not trying to scare anyone. I am as frustrated by the decisions as you all. Enjoy the holidays and start looking in January. You will be doing yourself and you family a huge favor.

Consumer will get sold, not laid off.

Primary care will shrink but not go away. If lucky, sales bonuses will make a comeback.

Oncology will retain their bonuses without change. You’d lose 100% of your team if that was removed.

 

[anonymous]

Consumer will get sold, not laid off.

Primary care will shrink but not go away. If lucky, sales bonuses will make a comeback.

Oncology will retain their bonuses without change. You’d lose 100% of your team if that was removed.

And which oncology team are you referring to? Gsk has no oncology sales team-sold that off to Novartis years ago?

 

[anonymous]

What is pathetic is that you cannot go from the field into Mananged Markets. I did it. I refused to work as a DM or in the home office. I wanted to work the famous T shift-Tues-Thurs 10-2 forever and did it in MM! RAM then NAM. GSK RAM then NAM with smaller company for major $ increase due to GSK experience. Great life flying 1st class, smashed and sleeping till noon. (even in hotels on the road!)

 

[anonymous]

What is pathetic is that you cannot go from the field into Mananged Markets. I did it. I refused to work as a DM or in the home office. I wanted to work the famous T shift-Tues-Thurs 10-2 forever and did it in MM! RAM then NAM. GSK RAM then NAM with smaller company for major $ increase due to GSK experience. Great life flying 1st class, smashed and sleeping till noon. (even in hotels on the road!)

I can’t believe this clown is still around. He has been posting this same bs for like a decade. Used to show snapshots of his bank statement. Readily admits he could not find a woman to marry and have kids with. His mommy died and he got a large inheritance. A sad and lonely dude..