• Tue news: Where do Harris and Trump stand on health policy? Medtronic renal denervation coverage. Canada less likely to have drug shortages? Wall Street wants CVS execution plan. Nektar manufacturing facility sale. See more on our front page

Ken Frazier's Merck/MSD @ the Xroads video

Quote

Anonymous

Guest
Judge for yourself, but it sure sounds like a new round of massive layoffs are coming 'round the corner for the "New" Merck. I guess it will NEVER end. DO listen....
 






So who is getting let go and who stays? My bet is S3's are keepers. Wonder if they will use our people rankings or overall differentiation. Any guesses as to when we get the calls? End of 2nd quarter?
 
















Hang on to your hats...Ken made it clear that we need a new business model with a lower cost structure...code for reduction in headcount. Take a look around your geography at the number of reps we have versus the number of customers we can actually call on. Doesn't take a rocket scientist to realize it is financial folly to pay a rep +$100K per year ($250K with benefits) to drop vouchers or samples (or do nothing at all.) We could easily eliminate 3000 reps and reduce our cost structure by $750M. All in favor say aye!!
 




I agree- sure sounds pretty cryptic and the word Now in bold and highlighted means look out very soon not later. If you read the transcript it is very obvious more layoffs are just around the corner. Ties in well with our 1S meeting which had very little enthusiasm and little forward thinking.
 








It's already begun with many VPs being let go (or going). Also, say bye bye to the defined pension (IF YOU KEEP YOUR JOB). I sense this round will be the UGLIEST of them all. Now THAT'S A VISION !!!!!!!!!!!!
 












Anonymous said:
So who is getting let go and who stays? My bet is S3's are keepers. Wonder if they will use our people rankings or overall differentiation. Any guesses as to when we get the calls? End of 2nd quarter?
Click to expand...

Agree with S3 stay with special projects peps,manager favorites, S2 sr exec and execs. Neuro, port 1, some S1 go next.
 




Anonymous said:
I agree- sure sounds pretty cryptic and the word Now in bold and highlighted means look out very soon not later. If you read the transcript it is very obvious more layoffs are just around the corner. Ties in well with our 1S meeting which had very little enthusiasm and little forward thinking.
Click to expand...

Little talk of tomorrow's plans....shady hazy and lots of ?????????????
NCM...may be a forgotten nightmare in two years.
 




I like this guy, Frazier. We can do another 20% cut. There are a lot of people around here that Get paid a lot of money but do very little. Nothing cryptic about that video. We're cutting costs = more layoffs. How do u bring value to the company?
 




Anonymous said:
Hang on to your hats...Ken made it clear that we need a new business model with a lower cost structure...code for reduction in headcount. Take a look around your geography at the number of reps we have versus the number of customers we can actually call on. Doesn't take a rocket scientist to realize it is financial folly to pay a rep +$100K per year ($250K with benefits) to drop vouchers or samples (or do nothing at all.) We could easily eliminate 3000 reps and reduce our cost structure by $750M. All in favor say aye!!
Click to expand...

Sad state of affairs. MRL runs dry, exec team make out like bandits while sales is pushed out. If things don't turn around, Merck will become a dinosaur. For SP reps, layoffs sooner rather than later would be ideal (better severance package if before Nov 2011).
 












Going to be very interesting to see what they do.....

Any legacy SP rep who gets the axe before late October this year is paid out 6months in salary minimum...as per the contract they signed if its within 2 yrs of merger.

Knowing Jerck...they will eliminate legacy Merck before then and then layoff legacy SP Nov1
 




First, don't buy that new car or large-screen TV with your tax refund or bonus check. You may need the money later on.

Second, it is ironic that we will be doing another reduction. The same people that decided we needed 10-12 reps to promote Vioxx are now telling us we need to further cut cost by letting reps go.
 




However they work their numbers, in this situation there is a 100% certainty that certain folks will be shown the door (at very low cost to Merck) for relatively minor trangressions. Tread carefully if you are determined to get through this year and into more uncertainty next year. The biggest predictor of layoffs has always been a history of layoffs.
 




Top Bottom
Back
Quote