May I pose a philisophical question at this point?

[Anonymous]

Frazier is a well-paid CEO. Well-paid CEOs have well-paid compensation consultants that come up with corporate compensation plans that keep well-paid CEOs well-paid and, in turn, the compensation consultants are well-paid. Suggesting a pay cut to a CEO would not be a strategy repeated by the consultant that replaces the one that had suggested the pay cut.

 

[Anonymous]

They have even more incentive to stay until they get fired. Stock grants, stock options all need to be vested over time. And if the Directors canned all their cronies, who would they talk to and use to cascade down all the nonsense. Cuts always mean get rid of the little guy first so that "pain" numbers can be shown to Wall Street. Cut compensation 10% across the board and the number of voluntary resignations would shoot up and the sharing the budget pain would be more fair and taken far better. Those that can do better would get gone and those that cannot would have little to moan about. Picking and choosing the weakest of the weak to make numbers makes no sense. For the amount of work to be done, people are needed. Too many man-hours are now being spent just wondering if next week will be their last. Who in their right mind is going to work their ass off under those circumstances. If you lay people off it says that you have too many bad people; if you cut pay, it means you don't have enough money. Which is it? If it is the former, why is management seemingly blameless? If it is the latter, explain to me the exhorbitant pay for senior management.

The real reason why getting out of a rep job is so hard. Closed club.

 

[Anonymous]

Also very well put. Merck has been doing absurd things for about the past 15-16 years from my observations. The absurdity only seems to have gotten worse. I wouldn't believe it except for the fact that I've lived it in hopes it would get better. It continues to get worse.

That's why for so many years Merck did not have layoff's..just runoff's! That's all changed now and they now have a proven system in place for getting rid of the tenured producers because they have a manager validated system of competencies that nobody can really put their fingers on..totally subjective..without managers working with field reps regularly and all of this with a new eye on things that have never mattered and probably never will! Nobody is going to love 'Merck' anymore and you can't be Americas most admired company with the stock price in the shitter and no benefits for customers! The marxists in the northeast never liked Merck anyway or any other big business and now they've reproduced like rats! Hail Columbia!