Huge Layoffs Coming in October 2024

[anonymous]

TD=therapeutic discovery
PSTS=preclinical safety and translational science
Basically these are innovative medicine R&D departments

Why are there layoffs in IM R&D? That is crazy.

 

[anonymous]

Why are there layoffs in IM R&D? That is crazy.

Budget cuts to accomadate greater number of late stage clinical trials to plug the Stelara LOE gap

 

[anonymous]

Lilly b

Which companies are better run and have better revenue pipeline?

Lilly. they just laid off one whole sleeve at the end of last month and doing a complete internal reorg now with field announcements first week of November. The whole salesforce is shitting themselves

 

[anonymous]

I have read Abbott offers free healthcare to all its employees.

Not sure what people means by "free healthcare", they are never free. But we (impacted and ready to retire) got to keep the same healthcare insurance throughout severance period (yes, we still pay our portion). Then, Cobra kicks in till you are 65. After that, Medicare kicks in, and for qualitied JNJ retiree, they get to supplement Medicare with JNJ's Retiree medical. This is my understanding so far. Will be talking to JNJ's Retirement specialist next week to confirm.

 

[anonymous]

Not sure what people means by "free healthcare", they are never free. But we (impacted and ready to retire) got to keep the same healthcare insurance throughout severance period (yes, we still pay our portion). Then, Cobra kicks in till you are 65. After that, Medicare kicks in, and for qualitied JNJ retiree, they get to supplement Medicare with JNJ's Retiree medical. This is my understanding so far. Will be talking to JNJ's Retirement specialist next week to confirm.

The only free part is Medicare part A, which is free to all American at 65.

 

[anonymous]

How many layoffs do you expect by end of the year? Is MedTech far more safe than Pharma?

More than 5'000

 

[anonymous]

More than 5'000

How many layoffs expected in Sales and supply chain groups?

 

[anonymous]

Which companies are better run and have better revenue pipeline?

Regeneron & Lilly.

Ortho was good but was killed 20 years ago when pills didn’t pay enough bills.

 

[anonymous]

Regeneron & Lilly.

Ortho was good but was killed 20 years ago when pills didn’t pay enough bills.

Dis dude touches himself in a Volvo

 

[anonymous]

Layoffs in Oncology Discovery, Retina, Immunology, Neuro - DPDS - all functions are affected. Systematically rolled out. This week if Reed’s organization. All functions all TAs are being asked 10-15% headcounts reduction. God speed to all

 

[anonymous]

Layoffs in Oncology Discovery, Retina, Immunology, Neuro - DPDS - all functions are affected. Systematically rolled out. This week if Reed’s organization. All functions all TAs are being asked 10-15% headcounts reduction. God speed to all

10-15% reduction in HC or budget?

 

[anonymous]

10-15% reduction in HC or budget?

Was told 10-15% reductions in headcount

 

[anonymous]

Dis dude touches himself in a Volvo

Only in abortion clinic parking lots Bueller!

 

[anonymous]

Layoffs in Oncology Discovery, Retina, Immunology, Neuro - DPDS - all functions are affected. Systematically rolled out. This week if Reed’s organization. All functions all TAs are being asked 10-15% headcounts reduction. God speed to all

Which teams.. only inept Sales?

 

[anonymous]

Which teams.. only inept Sales?

Discovery, the same groups that jnj is essential to grow.....

 

[anonymous]

Development too

 

[anonymous]

Ten percent of 130,000 = 13,000 layoffs.

 

[anonymous]

Does anyone know what the situation in Europe looks like, how many people have been laid off in Belgium, Switzerland, UK…?

 

[anonymous]

how about china jjmt？

 

[anonymous]

Not sure what people means by "free healthcare", they are never free. But we (impacted and ready to retire) got to keep the same healthcare insurance throughout severance period (yes, we still pay our portion). Then, Cobra kicks in till you are 65. After that, Medicare kicks in, and for qualitied JNJ retiree, they get to supplement Medicare with JNJ's Retiree medical. This is my understanding so far. Will be talking to JNJ's Retirement specialist next week to confirm.

All true - unless J&J brooms you out the door only months before you are eligible for the retiree medical benefit.