Merck Management

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Anonymous

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In an immediate and specific fashion, the Merck announcement revealed a level of deceit on the part of Merck management that has become all too common in pharma during recent years. Someone at the press conference asked CEO Ken Frazier if the current cuts to R&D spending and staff mean he is abandoning his 2011 position where he said Merck will pursue a different strategy than Pfizer and other Big Pharmas that decided at the time to cut their research budgets (see here).

Frazier professed to see no change or contradiction. Instead he said his 2011 statement didn't suggest Merck wouldn't cut R&D, just that they wouldn't make "indiscriminate" cuts to prop up short-term earnings (see here).

Read more at http://www.philly.com/philly/blogs/...fundamental-problems.html#86KDBqwk2tGoPwcQ.99



http://www.philly.com/philly/blogs/healthcare/Merck-layoffs-reveal-fundamental-problems.html
 




This was a great post. Wall Street has put out a couple of skeptical posts about this slash and burn plan Merck has put forward - you know, after Ken said slash and burn was not our bag, baby.

Search Forbes and Marketwatch for the other kiss-offs from Ken's most important audience - the analysts (not the patients OR the employees). Kowardly Ken doesn't even have the decency to hold an EBB so people can see his face and ask him questions. The last two CEOs may not have been any great prizes but they at least showed their faces as they cut heads by the thousands.

Kowardly Ken rushes off to defend Penn State and serve POTUS on the Export Council while the job that pays him ~$11M and a business that depends on him shrivels to nearly nothing. The BoD should demand their own heads - the EC! Pearlmutter, too. He's a red herring - he will not save Merck, he will line his pockets and remove firmer rivals on his revenge tour with the hopes of ascending to CEO as Kowardly Ken jets off to DC.
 




These parasites are just churning and burning so they have something to say at the next analysts/earnings meetings. "We are implementing our Forward Focus initiative..." Nice stall tactic while they unload any value left in MRK into their own accounts. Be Well!
 




Most senior managers were kept untouched(associate director and above). This sets stage for next round cut...managers helps each other out.

For those who led once great company down this path, where are their accountability? They make bad decisions or no decisions at all for so long...they are still going around talk big and talk s---t.

Something should be done..they should be held accountable for many of their conducts.
 
















Anonymous said:
In an immediate and specific fashion, the Merck announcement revealed a level of deceit on the part of Merck management that has become all too common in pharma during recent years. Someone at the press conference asked CEO Ken Frazier if the current cuts to R&D spending and staff mean he is abandoning his 2011 position where he said Merck will pursue a different strategy than Pfizer and other Big Pharmas that decided at the time to cut their research budgets (see here).

Frazier professed to see no change or contradiction. Instead he said his 2011 statement didn't suggest Merck wouldn't cut R&D, just that they wouldn't make "indiscriminate" cuts to prop up short-term earnings (see here).

Read more at http://www.philly.com/philly/blogs/...fundamental-problems.html#86KDBqwk2tGoPwcQ.99





http://www.philly.com/philly/blogs/healthcare/Merck-layoffs-reveal-fundamental-problems.html
Click to expand...

What do you expect? He is a lawyer
 




Anonymous said:
Most senior managers were kept untouched(associate director and above). This sets stage for next round cut...managers helps each other out.

For those who led once great company down this path, where are their accountability? They make bad decisions or no decisions at all for so long...they are still going around talk big and talk s---t.

Something should be done..they should be held accountable for many of their conducts.
Click to expand...

Anonymous said:
Most senior managers were kept untouched(associate director and above). This sets stage for next round cut...managers helps each other out.

For those who led once great company down this path, where are their accountability? They make bad decisions or no decisions at all for so long...they are still going around talk big and talk s---t.

Something should be done..they should be held accountable for many of their conducts.
Click to expand...

You're right that management should be held accountable but wrong that associate director and above were kept untouched. Executive director and above in MRL, yes. The cuts there are in the 5-10 percent range. At the director and associate director level the cuts are apocalyptic and most of the few who remain at MRK it will be on research track.

If you've ever disagreed with the Chosen Ones (SVP, VP, Exec Dir) and were on the M track, you're done because you are a threat. Why do you think the buffoons who helped lead us into this mess are being kept around? They are either toadies to those above or incompetent. Either way, no threat.
 




Anonymous said:
You're right that management should be held accountable but wrong that associate director and above were kept untouched. Executive director and above in MRL, yes. The cuts there are in the 5-10 percent range. At the director and associate director level the cuts are apocalyptic and most of the few who remain at MRK it will be on research track.

If you've ever disagreed with the Chosen Ones (SVP, VP, Exec Dir) and were on the M track, you're done because you are a threat. Why do you think the buffoons who helped lead us into this mess are being kept around? They are either toadies to those above or incompetent. Either way, no threat.
Click to expand...

What's your "source" for this diatribe? No announcements as of yet !
 




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