March Layoffs

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anonymous said:
All areas were affected, in all areas - levels 4 to 7 were all reviewed and cuts were made according to certain criteria. It was surprisingly brutal that they used tenure as guidelines to let people go, but it seems they used similar playbook as Google/Facebook.
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Does that mean longer tenure didn’t shield staff?
 








Is 450 that impactful to finances? Would that be just 45M a year? I saw Amgen is being sued for 10B. That layoff is a drop in the bucket. Plus they have to pay severance and create low morale and uncertainty at work and extra work for management? Can someone with some finance or management experience offer some insight to this?
 




















anonymous said:
NOT nearly enough severance. Sorry. It’s also hit accounting.
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Do you know which teams in accounting were hit? I know everyone hates bean counters, but that group was thinly staffed as it was.

Very sorry to all who were affected. And to the person with 20+ years and 16 weeks of severance, you should have gotten at least a year. I hope you find another role quickly.
 




anonymous said:
Do you know which teams in accounting were hit? I know everyone hates bean counters, but that group was thinly staffed as it was.

Very sorry to all who were affected. And to the person with 20+ years and 16 weeks of severance, you should have gotten at least a year. I hope you find another role quickly.
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fake call after fake calls -all of you
 




No respectable severance after 20 years and no RSU. Thats harsh and it sends a strong message to employees that talented folks shouldn't bank on the company respecting their contributions.

Be selfish, get an external offer, and capitalize on the sign on bonus and stock buyout that you would typically get before its your turn to get laid off.

Point of reference: A contract firm offered me 300K in stock (if they made IPO) and my current total pay (+RSU) as their base salary for the same responsibility I have now. Also a similar sized biotech/pharma offered 75K sign on bonus plus a complete stock buyout and current salary to live in a much cheaper state.

Corporations look out for their bottom line. So should we. Message received Amgen.
 




anonymous said:
No respectable severance after 20 years and no RSU. Thats harsh and it sends a strong message to employees that talented folks shouldn't bank on the company respecting their contributions.

Be selfish, get an external offer, and capitalize on the sign on bonus and stock buyout that you would typically get before its your turn to get laid off.

Point of reference: A contract firm offered me 300K in stock (if they made IPO) and my current total pay (+RSU) as their base salary for the same responsibility I have now. Also a similar sized biotech/pharma offered 75K sign on bonus plus a complete stock buyout and current salary to live in a much cheaper state.

Corporations look out for their bottom line. So should we. Message received Amgen.
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well said, really good perspective for anyone at our company or this industry in general
 




anonymous said:
I believe HR is wise to a large group of males who keep posting for director level positions. They are doing this on the advice from the same law firm. Appears they are setting up some type of paper trail end to end. This place is crazy, omg.
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Confirmed. Glad to learn these males are taking action vs. venting grievances on CP.
 




anonymous said:
No respectable severance after 20 years and no RSU. Thats harsh and it sends a strong message to employees that talented folks shouldn't bank on the company respecting their contributions.

Be selfish, get an external offer, and capitalize on the sign on bonus and stock buyout that you would typically get before its your turn to get laid off.
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Exactly this. The RSUs may as well have never existed to the suckers who stuck around like me
 








anonymous said:
Is 450 that impactful to finances? Would that be just 45M a year? I saw Amgen is being sued for 10B. That layoff is a drop in the bucket. Plus they have to pay severance and create low morale and uncertainty at work and extra work for management? Can someone with some finance or management experience offer some insight to this?
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The cost of the McKinsey consultants hired to manage the layoffs is probably higher than whatever cost-saving comes from RIFfing 450. This is to keep with appearances because everyone else is doing it and to demoralize people into a tsunami of resignations (no severance or lawsuits). Then they’ll unleash some new AI tools to increase productivity for those remaining to validate.
 
















anonymous said:
Confirmed. Glad to learn these males are taking action vs. venting grievances on CP.
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Yes, specific Amgen male leadership use, abuse, and manipulate the females around them while standing proudly and boastfully supporting them publicly. And everyone quietly watches it, whispers about it, is afraid of it, and allows it to continue. Especially the female HR workers who fear the same.
 




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