Massive layoff round will happen in 2H 2018

[anonymous]

**sigh** an idiot? Can the cafe get over name calling for once? I said ALL cylinders...not just the high flyers....anyway, get the macro view of the company globally from your couch at home and tell me, how many employees do we have ?? I honestly don’t know but I believe it’s in the tens of thousands...Novo has been somewhat open about US headcount affected in the past 2 layoffs/reorgs...hoping the trend continues so we know what to expect.

know what to expect? other rumors here we learn about this from a news article from the internet. that's the new novo norm

 

[anonymous]

Somehow I am not surprised. Everyone in HQ is talking about how incompetent our new CEO really is. He wants to be tough like his predecessor, Lars, or even more so, Kaare Schultz, but simply does not have it. It's the most dangerous type. People who deep inside wish they could be someone else. People are not dumb. Many in HQ are talking about it. I wonder why he got a external consultancy company ? Apparently he is really insecure nowadays with his new boss in place. He can not decide and his best advisor is usually his EA. Can you believe that? The same idiot who was here advising Jakob. Maybe this time the task is so big they needed to bring external advisors. We are doomed. Start looking for a new job.

Interesting to note that LFJ has started to focus on this "strategy execution" initiative after the new chairman of the supervisory board, Helge Lund, was appointed only a few months ago. Helge comes with a completely different background compared to the former chairman, G. Ando (aka "Gandolph") and brings a wealth of industrial leadership experience at the highest level. No doubt that Lars F has started to feel the heat and pressure from the board. Interesting to see where this ends: could turn out to be a rather brief spell for the pig farmer's son as CEO if he is not able to get NN back to growth again.

 

[anonymous]

hold up wait a minute .... I’m ranked number 4 in USA and I promised my side piece we were going to Rome ...so not fair

use your severance package to pay for it! Unless you’re lucky enough to get another job between now and then. Tough break for everyone.

 

[flextouchit]

Original poster nice job. Yes people cat is out of the proverbial bag of novo bull shit. So "obesity & diabetes" wont be cut, but will educators? Biofarm? Training? Management? And there is also a hiring freeze in diabetes. Now what? DCS Pods of two you are good, pods of three you are in trouble. Managers have no where near enough reps....and so we wait....again.

 

[anonymous]

Original poster nice job. Yes people cat is out of the proverbial bag of novo bull shit. So "obesity & diabetes" wont be cut, but will educators? Biofarm? Training? Management? And there is also a hiring freeze in diabetes. Now what? DCS Pods of two you are good, pods of three you are in trouble. Managers have no where near enough reps....and so we wait....again.

PODs in sales? Terrible business model in 2018.

 

[anonymous]

Executive Management in Denmark has just started a "strategic review" that will lead to massive layoffs. My source over in Bagsvaerd has heard that the target is to fire 2-3,000 people worldwide "sometime in second half of the year". No formal target has yet been set for NNI but a guesstimate is that massive layoffs of at least 500 people will take place in the field force and back office functions.

The reason for the layoffs that come only two years after the last round is the expected shortfall next year because of increased rebates to Medicare in 2019 to the tune of 1-2% point impact on sales and operating profit.

https://m.nasdaq.com/article/novo-n...00-staff---danish-paper-borsen-20180607-01085

Anyone who doubts there’s always some validity to csfepharma rumors is smoking something.

You’ll hear it here way before you hear it from “so-called” company leaders.

 

[anonymous]

Interesting to note that LFJ has started to focus on this "strategy execution" initiative after the new chairman of the supervisory board, Helge Lund, was appointed only a few months ago. Helge comes with a completely different background compared to the former chairman, G. Ando (aka "Gandolph") and brings a wealth of industrial leadership experience at the highest level. No doubt that Lars F has started to feel the heat and pressure from the board. Interesting to see where this ends: could turn out to be a rather brief spell for the pig farmer's son as CEO if he is not able to get NN back to growth again.

RIGHT ON. Lars is afraid of 3 people: his new boss Helge, the old CEO, Lars R, and his old boss, Jesper B.

 

[anonymous]

RIGHT ON. Lars is afraid of 3 people: his new boss Helge, the old CEO, Lars R, and his old boss, Jesper B.

... and this must be the only reason why he didn't terminate Jesper Brandgaard when he had the chance last year.

To give a detail-obsessed micro manager like Jesper B. the responsibility to get biopharm back to growth is a complete joke. He'll strangle the biopharm organisation with additional reporting requirements - so that he feels in control - whilst rejecting acquisition opportunities because he is dead scared of a potential future write off.

 

[anonymous]

All LFJ needs to do is to cut 15% of the HQ workforce. That will get you the needed 3000 people. No other company has such a large headquarter with so many redundant back office functions. Total chaos. Hopefully Lars starts there before asking the single largest commercial unit who are actually making good money every day.

 

[anonymous]

All LFJ needs to do is to cut 15% of the HQ workforce. That will get you the needed 3000 people. No other company has such a large headquarter with so many redundant back office functions. Total chaos. Hopefully Lars starts there before asking the single largest commercial unit who are actually making good money every day.

The redundancy in the field is beyond nuts. Cut 35% of dbms and field and lay off all the educators and no one will even notice they are gone.

 

[anonymous]

How about doing both of the last two posts, and let go of 6k....and finally stop this BS of going through this every single year???

 

[anonymous]

Brush up the resumes ladies and gents. It’s easier to get a job when you have a job. Unless you want to sit back and enjoy the “generous” severance Novo is sure to provide.

 

[anonymous]

Brush up the resumes ladies and gents. It’s easier to get a job when you have a job. Unless you want to sit back and enjoy the “generous” severance Novo is sure to provide.

Generous, Novo and severance never go together in same sentence!

 

[anonymous]

Brush up the resumes ladies and gents. It’s easier to get a job when you have a job. Unless you want to sit back and enjoy the “generous” severance Novo is sure to provide.

Nah...Why look for a job when you’ve already got one?

 

[anonymous]

The redundancy in the field is beyond nuts. Cut 35% of dbms and field and lay off all the educators and no one will even notice they are gone.

Funny how when a company is facing a looming layoff - no matter who that company is - the troops always scream "cut the managers and nobody will even notice they're gone!"

Take it from someone who survived many layoffs (over a span of twenty years) at a world class downsizer, the managers wont be leaving. Not very many of them anyway.

 

[anonymous]

Executive Management in Denmark has just started a "strategic review" that will lead to massive layoffs. My source over in Bagsvaerd has heard that the target is to fire 2-3,000 people worldwide "sometime in second half of the year". No formal target has yet been set for NNI but a guesstimate is that massive layoffs of at least 500 people will take place in the field force and back office functions.

The reason for the layoffs that come only two years after the last round is the expected shortfall next year because of increased rebates to Medicare in 2019 to the tune of 1-2% point impact on sales and operating profit.

I frankly don't believe that 3,000 people will be laid off; sounds crazy. We are still making lots of money and layoffs of that magnitude will have a significant negative impact on our ability to become successful long-term. Just think about the disruption to R&D, marketing and sales activities. If anything I would recon that no more than 1,000-1,500 would be terminated this time.

What I don't get, though, is whether executive management in HQ has been asleep at the wheel after the last round of layoffs in the fall of 2016. Why is that they've allowed manning since then to slowly, but steadily, increase to a level that is today higher than before the 2016 layoffs? Were they too optimistic? The doughnut hole rebate issue next year has been publicly known like forever.

 

[anonymous]

I frankly don't believe that 3,000 people will be laid off; sounds crazy. We are still making lots of money and layoffs of that magnitude will have a significant negative impact on our ability to become successful long-term. Just think about the disruption to R&D, marketing and sales activities. If anything I would recon that no more than 1,000-1,500 would be terminated this time.

What I don't get, though, is whether executive management in HQ has been asleep at the wheel after the last round of layoffs in the fall of 2016. Why is that they've allowed manning since then to slowly, but steadily, increase to a level that is today higher than before the 2016 layoffs? Were they too optimistic? The doughnut hole rebate issue next year has been publicly known like forever.

Well now. Won't you be the shocked one if they drop the hammer on you!

 

[anonymous]

The donut hole is a one year issue. It closes the hole one year early. That's it. There is nothing structural to that one time charge that would require a lay off.

In short, it is a bullshit excuse.

 

[anonymous]

Funny how when a company is facing a looming layoff - no matter who that company is - the troops always scream "cut the managers and nobody will even notice they're gone!"

Take it from someone who survived many layoffs (over a span of twenty years) at a world class downsizer, the managers wont be leaving. Not very many of them anyway.

Correct, and it always make me chuckle as well.

 

[anonymous]

Wanna see what bullshitters all of your fellow NNI employees are when they say "I never look at CafePharma"?

As of a few minutes ago, there have been almost 29,000 views of this thread. 5 to 6 thousand of them came in the last two days. And that wasn't just non-NNI employees either.

Stop the stupidity!! Everybody reads CP and we all know it.