ICONs future

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Anonymous

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Can anyone comment on the future outlook of ICON. Is there enough overall business to prevent future layoffs? Also, does ICON typically pay out on it's target bonus for mgr level employees?
 












Future should be good, operative word is "should". the deals with Pfizer and BMS are key and they have to do everything it takes to keep they're preferred partners happy. They also have implemented Oracle's data warehouse product.
The problem is putting resources to these relationships, leaves no project resources to handle other company's work. Financial pressure from Dublin to increase margins works against the hiring of good people. Also, SC's view toward retaining key people is: "let them go, we can hire others". As such, many, many good people have been leaving.
I'm less than optimistic about their future.
 






GARBAGE - GARBAGE - GARBAGE

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Headquartered in the United Kingdom, Randox Laboratories Ltd. is a market leader within the in vitro diagnostics industry, manufacturing high quality diagnostic products for laboratories worldwide. Our extensive product portfolio offers complete solutions within the fields of clinical chemistry, cardiology, forensic toxicology, veterinary, drug residues, life sciences, oncology, molecular diagnostics and internal and external quality control. Our goal is to ‘revolutionise healthcare through continuously improving diagnostic solutions.’ We continue to achieve this year after year due to our commitment and significant re-investment in Research and Development. Our innovative approach to diagnostics allows us to develop revolutionary products, specifically designed to provide more efficient

USED THEIR PRODUCTS IN A LAB IN THE PAST AND HAD ISSUES. CUSTOMER SUPPORT IS LACKING, RANGES ARE OFF, CONSTANT SUPPLY IS AN ISSUE. REALLY A SMALL BUSINESS THAT HAS NO USE IN THE MARKET PALCE
 
























Anonymous said:
What do you think it indicates? worsening business outlook? or preferring to hire full-time?
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No question; worsening business outlook - also likely being package for sale, so eliminating contractors means immediate positive impact on paper profits & cash flow; also several clients have not renewed contracts with ICON - so no client $$$ to pay for contract wages
 
























When Icon has acquired companies in the past, did they layoff employees of the acquired company? How significant were the layoffs?

What types of positions have been laid off recently and with acquisitions?
 
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Stay away. The impacts of Pfizer pulling the plug on bococizumab trials means a 100 million loss to ICON. According to their publicly available 1Q 2017 earnings call, this shortfall will be felt end of 2Q and during 3Q.

Right now everything is run on a shoestring, so it will only get worse. You will never have enough people, time, software or money to do your job properly.

They buy companies and then destroy them. There's a big song and dance when they buy a company about how wonderful the new folks are and how happy they will be at ICON. Then they cut their benefits, downgrade the positions, ICONize them and wait for them to leave the company of their own accord.
 






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