Layoffs Have Begun

[anonymous]

I am curious as to what Merck execs have planned for the US pharma teams. Drugs are losing patents etc...
Can they really hang on to everyone for the forseeable future?

The answer is obvious, no. Tremendous budget pressure on all orgs, many being given budget reduction targets

 

[anonymous]

50

I wasnt impacted but was in the meetings where they talked about it. The higher ups here are some of the biggest douchebags I have ever seen. Here are some quotes:

This is the first wave with many more to come.

There will be continuous evaluation of priorities and projects. Items that are not prioritized will be turned down and the people will be released.

More outsourcing and offshoring.

We have to be much leaner.

More focus on product management.

Yep douchbage is it.

 

[anonymous]

Apparently more layoffs currently underway this month in different areas of regulatory. Mostly business support areas again. All under the umbrella of “reorg”. Again, good performers that have been here for many years, most at the AD and Director levels. Honestly I think the real issue is that many 55- 65 y.o. Executive Directors aren’t leaving and the company doesn’t want to risk laying them off due to their age. So they’re targeting the 40-49 year old employees instead. Apparently at age 50 they can bridge you to retirement if you’ve been with the company long enough. Really sleazy stuff Rob. Or maybe it’s this new head of HR?

 

[anonymous]

Apparently more layoffs currently underway this month in different areas of regulatory. Mostly business support areas again. All under the umbrella of “reorg”. Again, good performers that have been here for many years, most at the AD and Director levels. Honestly I think the real issue is that many 55- 65 y.o. Executive Directors aren’t leaving and the company doesn’t want to risk laying them off due to their age. So they’re targeting the 40-49 year old employees instead. Apparently at age 50 they can bridge you to retirement if you’ve been with the company long enough. Really sleazy stuff Rob. Or maybe it’s this new head of HR?

80 people let go in Preclinical area last week as well, "reorg". All being done as silently as possible. The issue is very low turnover couple with cap on new FTEs. So when new areas of need arise, only way to get the skills necessary is to cut elsewhere, shift the FTEs

 

[anonymous]

The bridging of service there is a giant scam. Yes they bridge the service in that you get vested immediately however the bridging years are not counted toward the pension calculation.

Say you have been there 10 years - 5 as employee, 5 as consultant. They will bridge years so you vest immediately with 10 years. HOWEVER - the pension calculations only counts the years that you were an actual employee - so in this case it means 5 years.

 

[anonymous]

80 people let go in Preclinical area last week as well, "reorg". All being done as silently as possible. The issue is very low turnover couple with cap on new FTEs. So when new areas of need arise, only way to get the skills necessary is to cut elsewhere, shift the FTEs

Apparently more layoffs currently underway this month in different areas of regulatory. Mostly business support areas again. All under the umbrella of “reorg”. Again, good performers that have been here for many years, most at the AD and Director levels. Honestly I think the real issue is that many 55- 65 y.o. Executive Directors aren’t leaving and the company doesn’t want to risk laying them off due to their age. So they’re targeting the 40-49 year old employees instead. Apparently at age 50 they can bridge you to retirement if you’ve been with the company long enough. Really sleazy stuff Rob. Or maybe it’s this new head of HR?

Rob - what you get when a finance guy takes control.

Yep they cut me 54 white male with bridge and 20 years of service to this corrupt process . I’m calling 60 minutes this is age discrimination. I’d like to hear from Mr Rob why they choose top performers instead of the dead wood. They should not target you by age, race, color, creed. But by performance.

Thanks Merck so glad you supported me after giving 20 years of dedicated, confidential and productive years. Makes me sick and I wish I didn’t wast my time there.

 

[anonymous]

Rob - what you get when a finance guy takes control.

Yep they cut me 54 white male with bridge and 20 years of service to this corrupt process . I’m calling 60 minutes this is age discrimination. I’d like to hear from Mr Rob why they choose top performers instead of the dead wood. They should not target you by age, race, color, creed. But by performance.

Thanks Merck so glad you supported me after giving 20 years of dedicated, confidential and productive years. Makes me sick and I wish I didn’t wast my time there.

Could not agree with you more. I’m so sorry. This place is unrecognizable anymore.

 

[anonymous]

Could not agree with you more. I’m so sorry. This place is unrecognizable anymore.

yep, targeted reduction numbers have been handed down already...

 

[anonymous]

yep, targeted reduction numbers have been handed down already...

Are parameters or guidance given on who? I’ve found it very unusual the number of high performing people that have been laid off. People with company 20+ years but alol under the age of 55. Curious how much of that is intentional vs just coincidence.

 

[anonymous]

Are parameters or guidance given on who? I’ve found it very unusual the number of high performing people that have been laid off. People with company 20+ years but alol under the age of 55. Curious how much of that is intentional vs just coincidence.

None that I am aware of, just numbers (significant cuts to budget). The people you are referring to likely being chosen because they make more money

 

[anonymous]

Which areas of the company?

 

[anonymous]

Which areas of the company?

all areas

 

[anonymous]

Are we going to see chronic care layoffs again?

 

[anonymous]

I am going to lay my sack on Robby D later.

 

[anonymous]

I am going to lay my sack on Robby D later.

going to happen 4Q2024, 1Q2025 to meet budget reduction targets given to all divisions, all groups within divisions

 

[anonymous]

going to happen 4Q2024, 1Q2025 to meet budget reduction targets given to all divisions, all groups within divisions

Not happening in US Pharma.
Sorry.

 

[anonymous]

Not happening in US Pharma.
Sorry.

I guarantee they have budget reduction targets...how they get to those reduction targets will vary, but in many cases headcount is the majority of the budget

 

[anonymous]

I guarantee they have budget reduction targets...how they get to those reduction targets will vary, but in many cases headcount is the majority of the budget

This is true. And if you think layoffs aren’t be happening and won’t continue to happen on an even larger scale, then you haven’t been paying attention. Been happening at Merck over last year. Happened at J&J this week. Pfizer, Moderna, etc earlier in year. Ok to be optimistic, but people need to also be prepared.

 

[anonymous]

This is true. And if you think layoffs aren’t be happening and won’t continue to happen on an even larger scale, then you haven’t been paying attention. Been happening at Merck over last year. Happened at J&J this week. Pfizer, Moderna, etc earlier in year. Ok to be optimistic, but people need to also be prepared.

 

[anonymous]

The answer is obvious, no. Tremendous budget pressure on all orgs, many being given budget reduction targets

If they would ease off all the non essential travelling they could save a lot! Large groups flying for ‘workshops’ with no clear output.