Iroko is Starting to Quickly Crumble

Quote









HR definitely stopped updating the career website. Word is the positions vacated by the execs that just left will not be filled. Two more execs are leaving in December. I thought we had until the end of March. I wouldn't be surprised if they lock the doors in December. Can't say this website didn't tell you to get out now. Don't expect a big severance. Most will get 1 month and your insurance ends when you severance ends. If you start looking now and have a couple of good recruiters, use Lined-in, etc..., you may be able to land a job in January. But, you have to start looking today!
 








anonymous said:
Probably the only Pharma company in the US that doesn't require reps to make a minimum number of calls per day. Failing company will falling sales and reps are not given guidance how many calls per day? On top of that managers and reps got significant increase in base pay and change in title - reps are now managers and their manages are now directors. This is for a company that never hit a forecast.
Click to expand...

Sh-t hit the fan. So much for not having a minimum number of call per day. Goes goes to show you CES has no f--king clue what she is doing.
 








Here's a new one.... people who work at the home office who stay until mid December will get a retention bonus, which is 1 month their salary or about $10,000 to $20,000. Despite Christmas coming up and college tuition to pay, there are a number of HO employees who are leaving before mid Dec and will not get stay for their bonus. Think about that. If they stay just 3 more weeks they will get a lot of $$$. That's how bad things are. What do they know that the reps don't know? Iroko has no future.

The time is now to leave. Don't get caught being the last rep expecting you will get s severance for your loyalty- it ain't going to happen.
 








anonymous said:
Here's a new one.... people who work at the home office who stay until mid December will get a retention bonus, which is 1 month their salary or about $10,000 to $20,000. Despite Christmas coming up and college tuition to pay, there are a number of HO employees who are leaving before mid Dec and will not get stay for their bonus. Think about that. If they stay just 3 more weeks they will get a lot of $$$. That's how bad things are. What do they know that the reps don't know? Iroko has no future.

The time is now to leave. Don't get caught being the last rep expecting you will get s severance for your loyalty- it ain't going to happen.
Click to expand...

I knew things were bad. I didn't know it was this bad. That's a lot of money to walk away from.
 








The great and all knowing LOU just revised the sales forecast in September and already it is wrong. Iroko will not hit its number again. Are you surprised? Since 2007 Iroko never hit a quarterly or yearly forecast. Don't believe this post? Ask the CFO!

Why or how the investors put money into this company with LOU at the helm is beyond comprehension. After 1 year of abysmal results, how Clarissa is still in her job is baffling. Zero communication, doesn't work, let alone going it in the field, and wastes money like no other. Yet she is still in her job. At want point do you lose all confidence?

How many meetings has she already planned for 2017? If it wasn't true, it would be funny.
 








The burn rate of cash is accelerating. Probably 4 months of cash left. December is always a horrible selling month. More employees are leaving between now and the end of the year especially after the retention bonus is paid. Great example how poor leadership impacts a businees. LV and CES destroyed the company. Wait until they start blaming others -- that's their next move.
 








anonymous said:
The burn rate of cash is accelerating. Probably 4 months of cash left. December is always a horrible selling month. More employees are leaving between now and the end of the year especially after the retention bonus is paid. Great example how poor leadership impacts a businees. LV and CES destroyed the company. Wait until they start blaming others -- that's their next move.
Click to expand...
don't leave people Lou will grant all your wildest dreams and thoughts to bring us whole in a chain of pearls
 








Of course, the more reps who leave the company the lower the revenue. The lower the revenue, the faster the burn rate of cash. The posting of the rep jobs on the Iroko website are not being filled and the new openings are not being posted. The company has lost all momentum and sales will get worse since December is a slow month. The death spiral has started and will begin picking up speed. I'm on my way out before it's too late.
 
























The Sharknado is beginning to take shape. It won't be long now when it hits Philadelphia. It will also likely hit Texas and Georgia at the same time. Looks like the party is over.
 
























anonymous said:
The world at Iroko will soon be changing for the reps and not for the better. The business is unsustainable because it is burning more cash then it is making. Right now the rep job is pretty cushy. But when the new company takes over, and there will be a new company taking over, your job will get much tougher. Do yourself a favor and protect your career and your families and focus on getting a new job at a good and stable company.
Click to expand...

Get ready everyone! It going to start getting interesting!
 
























anonymous said:
Anybody notice the same 14 rep jobs are still on the Iroko careers website. Looks like Iroko stopped hiring.
Click to expand...

As predicted, more resignations are coming. It is a shame what has happened to this company that had unlimited potential. It hired many talented people who were very conscientious and who wanted to make a difference. Some are still there, but many are gone by either being fired or just fed up and leaving. It highlights why good leadership matters.
 
























Top Bottom
Back
Quote