Layoffs Are Coming

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anonymous said:
people are jumping ship due to changes in the pension plan. My bet is that they are relying on those extra vacancies to help prevent paying out severance packages. Sit tight...the "layoff predictions" have been stronger ever since the horrific launch of Belsomra, but we are still here.
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Lost another one today, MM has left the diabetes marketing team, another DCO left too.
What is going on?
 






anonymous said:
Stay and take the severance; do not leave. You are crazy too. The econ is great; you will see life after Merck. Everyone else does.
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Hey dummy, so you will have a big severance check and will be fighting with the masses for a 60k contract rep sales job, pretty darn stupid. Did you know? Ask any company or recruiter, any employment gap beyond 90 days on your resume will make you unhireable. Start to finish takes longer than that with the employment process. Bottom line, you had better make your exit check last and why work in a job with such an unknown? Call comes suddenly and 60 days later you are done! Do you think the job fairy will arrive at your home? Merck deli slingers are a dime a dozen overpaid group and will be stunned when reality sets in.
 






Whether there will be layoffs or not is part of the issue. The big problem here is that there is no confidence that you will keep your job considering the trajectory of this company. There is no peace of mind here. You people have excellent jobs at Merck. Ask those who left or were downsized from Merck. For the most part you will not come close to your current salaries and benefits you are now receiving. Most pharmas now contract. You will have to use your personal car to work as well. All I can say is hold on tight unless you get an outside offer too good to refuse. Save as much money as you can and pay off debts to be ready for the uncertain future.
 






Exactly; hold onto the job, benefits, and salary. Get your next job outside of this done industry and do your research on that now. Something that interests you next time. Do you need courses, training, etc. You will never duplicate what you have but after 44 you are toast unless specifically trained/degreed and does not include sales rep professionall designations. Thing are changing; be ready.
 






anonymous said:
Exactly; hold onto the job, benefits, and salary. Get your next job outside of this done industry and do your research on that now. Something that interests you next time. Do you need courses, training, etc. You will never duplicate what you have but after 44 you are toast unless specifically trained/degreed and does not include sales rep professionall designations. Thing are changing; be ready.
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I'm fine as I have:
MBA in sampling
PhD in delivering food
MA in field email and fast
 


















The predictions may be off on timing but they are right that layoffs are approaching. We are about to take a huge hit to revenue in the 3rd quarter. I certainly do not feel safe selling Belsomra now. We have no more FFM budget, sales are lousy, and there are major patent expiries coming. With the costs of cyber attacks I feel the timeline for cuts is being sped up.
 






anonymous said:
The predictions may be off on timing but they are right that layoffs are approaching. We are about to take a huge hit to revenue in the 3rd quarter. I certainly do not feel safe selling Belsomra now. We have no more FFM budget, sales are lousy, and there are major patent expiries coming. With the costs of cyber attacks I feel the timeline for cuts is being sped up.
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Even if we remain safe for a spell, bonus payouts nationwide are a joke. Districts are celebrating reps that are 93% to plan. Woohoo yippee, partay. Don't spend it all in one place. Lately, turnover here looks like the Whitehouse administration. Toxic in all ways every day.
 












anonymous said:
The predictions may be off on timing but they are right that layoffs are approaching. We are about to take a huge hit to revenue in the 3rd quarter. I certainly do not feel safe selling Belsomra now. We have no more FFM budget, sales are lousy, and there are major patent expiries coming. With the costs of cyber attacks I feel the timeline for cuts is being sped up.
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I agree. If this situation was presented as a case study in a business school the recommended actions would not be good for employees. The most optimistic recommendation would be a merger/acquisition. Thoughts?
 
























anonymous said:
Are you sure the sky is falling in October Chicken Little?
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I am not the original poster and have no idea about the warn statement. What I do know is employees are going to soil their britches during open enrollment. Just wait until you see what your monthly cost will be, your paycheck will get smaller and smaller. Take take take, what next, charge us a 'user' fee for computer use.
 






anonymous said:
I am not the original poster and have no idea about the warn statement. What I do know is employees are going to soil their britches during open enrollment. Just wait until you see what your monthly cost will be, your paycheck will get smaller and smaller. Take take take, what next, charge us a 'user' fee for computer use.
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Yep. Pretty much squeezing us to see how much we will take. I mean, how much has your base salary and SIP target increased over the past 7 years? Then check in with former colleagues who have moved on and see how much their compensation has increased since leaving. The ones whom I have spoken with have dramatically improved their job satisfaction and incomes. I am just too weak to make the jump. Waiting for a push.
 
























anonymous said:
I am not the original poster and have no idea about the warn statement. What I do know is employees are going to soil their britches during open enrollment. Just wait until you see what your monthly cost will be, your paycheck will get smaller and smaller. Take take take, what next, charge us a 'user' fee for computer use.
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Duh Januvia has a wee bit over 4 years till patent expiry. Fact is it will be shopped off to contract in 2019 as a mature product-sample send. Makes sense since it will be 12 years old then, and Ertu, duh, will never reach the pc bag, Merck will ditch it like a fart in the wind. So of course med-dental cost will increase whilst your bonus and merit increase will suffer, of course you have to pay a few grand for a fleet car with an extra seat row. People are escaping NOW, they know what's up, get your affairs in order, see the bigger picture.
 






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