Merck Layoffs

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Anonymous said:
You make some very valid points. However, if you talk to any reps who have been around for any length of time you will notice that what they have in common is the "whatever" attitude. No matter what system they use or how many times they change the titles of the programs we still do the same things: lunches, dinner programs, expense reports, give things to drs, field visits, sales calls, etc. Could the sales objective process provide incentive for sales performance and reward those who are actually working? Yes but why should they? The current system allows complete control--the managers select the winners based on personal relationships and keep others to actually get the work done. Changing things for the better will require releasing control and acknowledging that many do not work at this company. If fact, managers have said to me that "not working" is not a VIOLATION of policy and reps cannot be fired for not working. So, what I am saying to you is to either take the "whatever" attitude, try to become part of the managers favored few, of leave.
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Well said!!
 






$2.0 billion in net cost savings from all of these activities.
In February 2010, the Company commenced actions under a global restructuring program (the “Merger
Restructuring Program”) in conjunction with the integration of the legacy Merck and legacy Schering-Plough
businesses. This Merger Restructuring Program is intended to optimize the cost structure of the combined company.
Additional actions under the program continued during 2010. As part of the restructuring actions taken thus far
under the Merger Restructuring Program, the Company expects to reduce its total workforce measured at the time of
the Merger by approximately 17% across the Company worldwide. In addition, the Company has eliminated over
2,500 positions which were vacant at the time of the Merger. These workforce reductions will primarily come from
the elimination of duplicative positions in sales, administrative and headquarters organizations, as well as from the
sale or closure of certain manufacturing and research and development sites and the consolidation of office
facilities. The Company will continue to pursue productivity efficiencies and evaluate its manufacturing supply
chain capabilities on an ongoing basis which may result in future restructuring actions. During this period, the
Company also will continue to hire new employees in strategic growth areas of the business as necessary. In
connection with the Merger Restructuring Program, separation costs under the Company’s existing severance
programs worldwide were recorded in the fourth quarter of 2009 to the extent such costs were probable and
reasonably estimable. The Company commenced accruing costs related to enhanced termination benefits offered to
employees under the Merger Restructuring Program in the first quarter of 2010 when the necessary criteria were
met. The Company recorded total pretax restructuring costs of $1.8 billion in 2010 and $1.5 billion in 2009 related
to this program. The restructuring actions taken thus far under the Merger Restructuring Program are expected to be
substantially completed by the end of 2012, with the exception of certain manufacturing facilities actions, with the
total cumulative pretax costs estimated to be approximately $3.8 billion to $4.6 billion. The Company estimates that
approximately two-thirds of the cumulative pretax costs relate to cash outlays, primarily related to employee
separation expense. Approximately one-third of the cumulative pretax costs are non-cash, relating primarily to the
accelerated depreciation of facilities to be closed or divested. The Company expects the restructuring actions taken
thus far under the Merger Restructuring Program to result in annual savings in 2012 of approximately $2.7 billion to
$3.1 billion.
 


















I hope the Summit site closes. The employees all rushing to leave at 4:30-5:00PM just clog up Morris Ave and River Road, anyway. Close that baby up and knock 15 minutes off my commute. I work for one of your competitors in the area, BTW.
 
























I wish it were Dunkin Donuts but there are no DD franchises in Summit, NJ. The going rate for a new franchise in Northern NJ is $1,000,000. I'd be willing to kick in $100K if I could find four others to pony up same. We'll borrow the other $500K from the bank, with our great credit ratings. I've been studying this, and with decent business and low wage Filipino labor (plentiful in NJ), and we could turn a profit in under three years, as long as we don't skim the profits. We would be absentee landlords, hire experienced ex MacDonald's managers and essentially just sit back and count the garbanzos as they fill the the cash registers.

Anybody interested?
 






Anonymous said:
I wish it were Dunkin Donuts but there are no DD franchises in Summit, NJ. The going rate for a new franchise in Northern NJ is $1,000,000. I'd be willing to kick in $100K if I could find four others to pony up same. We'll borrow the other $500K from the bank, with our great credit ratings. I've been studying this, and with decent business and low wage Filipino labor (plentiful in NJ), and we could turn a profit in under three years, as long as we don't skim the profits. We would be absentee landlords, hire experienced ex MacDonald's managers and essentially just sit back and count the garbanzos as they fill the the cash registers.

Anybody interested?
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There is a DD in Summit....across from the train station. Otherwise, not a bad idea. But I'm not a risk-taker. I like "sure-things", I like to sleep at night...so I'm not an entrepreneur.
 






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