Layoffs for Teva Respiratory too

Quote






Gross sales for 2017 for Teva Global are targeted to come in 1billion lower from the generics division. This is due to the 2.5 billion Remsa deal and many divestitures of Activision generic products in US and the EU to get that deal through. 1 billion in generic sales =300 million net profit. Cutting 300 million in operations (a net profit expenditure)allows the company to come in and hit dividends and EPS.

This layoff has nothing to do with the divisional performance, products or anything else. Just a bunch of BIG EGOS in Israel that had to be the biggest and baddest player in town, even if it costs over 400 people in Global Specialty Sales their jobs, houses, whatever.

By the way Global Specialty (branded) came in Well Above Plan in all divisions.....double digits. This move is all about dividends and stock price in order to prevent a vote of No Confidence in Erez and the Board of Directors.

It sucks.......no one saw it coming, until the meeting in January. No way to warn anyone, no way to make cuts through hiring freezes etc.(which Dr Levin did before Phil Frost ran him off for trying to close an inefficient plant in israel.)

Before any more lies and innuendo come out.....try reading an article by Landa an Israeli, who is a major player in Israel and Teva. Also read the earnings estimate that was published at the beginning of the year.

We are losing a bunch of good friends and family over this BS. There is no reason to have the negativity towards anyone on this side of the ocean. I just hope someone asks Erez about the Financials in Orlando ( he is attending.) I prolly won't make the cut.
 






anonymous said:
Gross sales for 2017 for Teva Global are targeted to come in 1billion lower from the generics division. This is due to the 2.5 billion Remsa deal and many divestitures of Activision generic products in US and the EU to get that deal through. 1 billion in generic sales =300 million net profit. Cutting 300 million in operations (a net profit expenditure)allows the company to come in and hit dividends and EPS.

This layoff has nothing to do with the divisional performance, products or anything else. Just a bunch of BIG EGOS in Israel that had to be the biggest and baddest player in town, even if it costs over 400 people in Global Specialty Sales their jobs, houses, whatever.

By the way Global Specialty (branded) came in Well Above Plan in all divisions.....double digits. This move is all about dividends and stock price in order to prevent a vote of No Confidence in Erez and the Board of Directors.

It sucks.......no one saw it coming, until the meeting in January. No way to warn anyone, no way to make cuts through hiring freezes etc.(which Dr Levin did before Phil Frost ran him off for trying to close an inefficient plant in israel.)

Before any more lies and innuendo come out.....try reading an article by Landa an Israeli, who is a major player in Israel and Teva. Also read the earnings estimate that was published at the beginning of the year.

We are losing a bunch of good friends and family over this BS. There is no reason to have the negativity towards anyone on this side of the ocean. I just hope someone asks Erez about the Financials in Orlando ( he is attending.) I prolly won't make the cut.
Click to expand...

Stock price? Have your seen the price of the stock lately? How can anyone have any confidence in Erez right now?
 












anonymous said:
Gross sales for 2017 for Teva Global are targeted to come in 1billion lower from the generics division. This is due to the 2.5 billion Remsa deal and many divestitures of Activision generic products in US and the EU to get that deal through. 1 billion in generic sales =300 million net profit. Cutting 300 million in operations (a net profit expenditure)allows the company to come in and hit dividends and EPS.

This layoff has nothing to do with the divisional performance, products or anything else. Just a bunch of BIG EGOS in Israel that had to be the biggest and baddest player in town, even if it costs over 400 people in Global Specialty Sales their jobs, houses, whatever.

By the way Global Specialty (branded) came in Well Above Plan in all divisions.....double digits. This move is all about dividends and stock price in order to prevent a vote of No Confidence in Erez and the Board of Directors.

It sucks.......no one saw it coming, until the meeting in January. No way to warn anyone, no way to make cuts through hiring freezes etc.(which Dr Levin did before Phil Frost ran him off for trying to close an inefficient plant in israel.)

Before any more lies and innuendo come out.....try reading an article by Landa an Israeli, who is a major player in Israel and Teva. Also read the earnings estimate that was published at the beginning of the year.

We are losing a bunch of good friends and family over this BS. There is no reason to have the negativity towards anyone on this side of the ocean. I just hope someone asks Erez about the Financials in Orlando ( he is attending.) I prolly won't make the cut.
Click to expand...

They tried a while back to lay off in Israel. The Israeli gov't went nuts, so Teva backed down. Instead they pulled the trigger in the US, where it is much easier to get rid of employees. This trend with Teva will continue, as the US is by far the easiest path to eliminate employees.
 






If not severed before Feb 1 would those people eventually severed receive benefits thru the end of the Feb since they are technically employed on first of the month? Any insight is appreciated.
 






anonymous said:
If not severed before Feb 1 would those people eventually severed receive benefits thru the end of the Feb since they are technically employed on first of the month? Any insight is appreciated.
Click to expand...

I'm not sure. I would think bc of managers meeting/ NFM and having to have at least two weeks to close out expenses, storage etc I would think till end of month. I just care about when they take the car. I have 3 kids I need to get to school.
 






anonymous said:
I'm not sure. I would think bc of managers meeting/ NFM and having to have at least two weeks to close out expenses, storage etc I would think till end of month. I just care about when they take the car. I have 3 kids I need to get to school.
Click to expand...

My thoughts were that they were pointing to the 30th so they could severe us and make our official last day the 31st with severance starting on Feb 1. I hope I'm wrong and we get a little more time. But my manager told me that getting you checked out is really not a big deal. You get a list and send your crap back and they arrange someone to come get the car. I'm assuming that could take a little bit of time though.
 






At least the new products have been approved. Did they really think before emailing everyone this news? Poor judgement in my opinion. I'm not sure why I'm surprised any more.

Please get this over with so we can all figure out our next steps.
 












anonymous said:
At least the new products have been approved. Did they really think before emailing everyone this news? Poor judgement in my opinion. I'm not sure why I'm surprised any more.

Please get this over with so we can all figure out our next steps.
Click to expand...

I thought the same thing. Why would they send us that when we are all sitting here waiting to hear our fate and half of the people will be gone. Are we supposed to be excited? Rude!
 












This is the most unprofessional load of crap ever. Everyone who is making these decisions should be ashamed. We know we are just a number on a spreadsheet, but do they realize we are also providers for our families, and we are not sleeping and just need an answer?

Why would anyone want to work for a company who treats people this way?
 






anonymous said:
This is the most unprofessional load of crap ever. Everyone who is making these decisions should be ashamed. We know we are just a number on a spreadsheet, but do they realize we are also providers for our families, and we are not sleeping and just need an answer?

Why would anyone want to work for a company who treats people this way?
Click to expand...
Amen. From stringing us on to announcing the exciting approvals and promotions of home office people. There is not one ounce of emotional intelligence here. I am sorely disappointed. Hope it's soon.
 






anonymous said:
Amen. From stringing us on to announcing the exciting approvals and promotions of home office people. There is not one ounce of emotional intelligence here. I am sorely disappointed. Hope it's soon.
Click to expand...

We got and email this morning on the TNP side. Directors found out already. They cut down to 2 from 4. Managers find out at 3pm. And, of course the reps have to wait until Wednesday or maybe Thursday. WTH?!?!? Anyway, good luck to you guys.
 












anonymous said:
Amen. From stringing us on to announcing the exciting approvals and promotions of home office people. There is not one ounce of emotional intelligence here. I am sorely disappointed. Hope it's soon.
Click to expand...

Seriously! Hey, a bunch of you guys are getting let go but we've got approvals on some me too products, and we've promoted some people. Pathetic.

Just keep on handing out expired copay cards and waiting for 2 weeks for your layoff news!
 
























Top Bottom
Back
Quote