More Layoffs..........

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Anonymous

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Alright,

So about 3 yrs. ago Begger Begley says we are growing in the mid to high single digits. "That's mediocre, We need to be top of the class in our industry". The goal is to be in the low to mid double digit growth.

The plan is to layoff/outsourse over 1500 employees. This all in the midst of one of the worst economies any of us have every seen. Why now after all these years, have such an ambitious plan? Hmmmmmm.. Stock price was sinking along with all the other companies. Hospira yet was still profitable.

The truth unfolds later. Begger announces layoffs, Wallstreet loves it and sends stock price soaring to new highs. At it's peak, Bagley gets 8+ million dollar bonus, while kicking long time employees to the curb side, announces retirement as CEO and cashes in all his stock.

In any other environment, this would be considered criminal.

Now here we are, Not the world class company invisioned by our great leaders but a low
single digit growth company for the forseealble future.

Looks like more layoffs ahead........
 






The truth unfolds later. Begger announces layoffs, Wallstreet loves it and sends stock price soaring to new highs. At it's peak, Bagley gets 8+ million dollar bonus, while kicking long time employees to the curb side, announces retirement as CEO and cashes in all his stock.


Looks like more layoffs ahead........[/QUOTE]

You neglected to mention that he also said LEAN was suppose to cure all ills also. After paying millions for that program it demoralized employees to the point that Hospira is now. He made it out just in time for the FDA audits. That should also be considered criminal. But he got his teaching from the biggest a'hole (mw). Guess he learned well.
 












If fuel and lean were unable to get Hospira to the double digit profits, the problem must lie elsewhere. Me thinks I smell and rat and the rat will paddle to other countries with jobs and ill-gotten booties. It appears that we have been mis-informed about about the root cause.
 






Root cause is the SLuT group they brought in when they ousted the Abbotites in LF... Head count in LF climbs and climbs with no end in sight. VP's and Directors out the ying yang, meanwhile LEAN has gutted the manufacturing sites and FUEL has ticked off supplers since it's all about price not cost. I just want to puke when I hear Hardy bragging about O'Neil and how great she is when much of what has happened in the plants can be laid directly at her feet by stripping down direct and indirect labor. And these idiots in changre at LF wonder why morale is so poor; these people are absolutely clueless and most have no pharmacetical experience at all. If these people are so great why is the operations side of the business in the toilet and so much so that a LF V.P. has to run Rocky Mount. True, there was a V.P. there before but now it's the V.P. of the V.P. in charge. I just wonder if there are any Board Members who haven't been bought and paid for that actually have a pair to stand up to the incredible mismanagement that has taken place by the current SLuT.

Looks like SVP production may have 3-4 years in the USA until the site in Vizag, India gets up and going then will come the shift of LVP production.
 






Just like they said in the days of Rome's dominance (so I was told).

"Who is watching the watchers"?

I think the BOD's (Begley being chairman) and Company directors are all conspiring together to raid this company and still all it's money. Maybe pay back for the class action lawsuit.

Apparently the large shareholders don't mind. They need someone that is a proactive shareholder to buy a large piece of this company and force these crooks out.
 






Looks like the dominos are starting to fall. Company execs take off with the money and leave the rest of us holding an empty bag. Most likely more sites are going to incur the FDA's wrath. Setting the stage to manufacturing to India. Investment community is slowly coming around to the grand scheme.

Raymond James analyst Jayson Bedford downgraded the stock to "Outperform" from "Strong Buy," his firm's top rating. He said Hospira ( HSP - news - people ) is expecting slower profit growth because of greater spending on research and problems at an important manufacturing facility. "We viewed the (investor day) meeting as a forum to restore investor credibility. Unfortunately, we do not believe management accomplished this goal," he wrote.

THE BIG PICTURE: Hospira issued disappointing guidance in February for 2011, and in late July, it said it expects reduced profit margins because it is spending more money to improve its manufacturing process. The company has had manufacturing problems at a facility in Rocky Mount, N.C., which is responsible for about a quarter of its annual revenue.
 






Can hear the rumbling off in the distance....... I'm sure our fine leaders are reading this.


On Tuesday September 20, 2011, 1:11 pm
WHITEHOUSE STATION, N.J. (AP) -- Drugmaker Merck & Co. has told employees it can't reach its goal of cutting up to 13,000 jobs by 2015 just by eliminating vacant jobs, so it is speeding up layoffs in the U.S.

According to an internal memo, by the end of October Merck will notify employees losing their jobs in sales and other departments. The memo states the teams affected are: marketing & customer solutions; managed markets & policy; strategy & commercial model innovation; and the neuropsychiatric and women's healthcare specialty sales teams.

The memo, titled "Update on Ongoing Changes to the US Market's Business Operations," was sent Sept. 15 by Mark Timney, Merck's President US Market. It was first reported by the Pharmalot blog.

"The unfortunate reality is that we must do more and move now if Merck is to be successful over the long term," Timney wrote. "Making difficult choices in select functions, based on an assessment of the business risks and opportunities identified within each area, will allow us to transform our business and capitalize on the most significant market opportunities in 2012 and beyond."
 






Anonymous said:
Looks like the dominos are starting to fall. Company execs take off with the money and leave the rest of us holding an empty bag. Most likely more sites are going to incur the FDA's wrath. Setting the stage to manufacturing to India. Investment community is slowly coming around to the grand scheme.

Raymond James analyst Jayson Bedford downgraded the stock to "Outperform" from "Strong Buy," his firm's top rating. He said Hospira ( HSP - news - people ) is expecting slower profit growth because of greater spending on research and problems at an important manufacturing facility. "We viewed the (investor day) meeting as a forum to restore investor credibility. Unfortunately, we do not believe management accomplished this goal," he wrote.

THE BIG PICTURE: Hospira issued disappointing guidance in February for 2011, and in late July, it said it expects reduced profit margins because it is spending more money to improve its manufacturing process. The company has had manufacturing problems at a facility in Rocky Mount, N.C., which is responsible for about a quarter of its annual revenue.
Click to expand...

Well DUH!!!!!

Of course they have problems at manufacturing sites. That's because project LEAN crippled all of them to raise the stock price. Look at all the directors selling their stock last year when it went up. Beagley, Werner, Kearney. etc.
They knew what they were doing. That's how the game is played with alot of these corrupt corporate criminals. Only the Koolaid drinkers believe in their baked up plans for growth. The only thing growing is their bank accounts.
 






The pressure is mounting. Most likely corporate officers and board will take out their bad decisions and fraudulent behavior on the people not responsible and lay them off.
 






This is the corporate gangsters. Wear suits and make you think they are respectable people with integrity. Tell you something but they have a whole different meaning to it than what you think.

Corporate directors cut cost and layoff employees in a disguise to boost profit. When in fact the only plan was to boost stock price and raid the company treasure with fat bonuses. Crippling the manufacturing plants and losing valuable employees. Years later the damage is being seen. Not before they ride off in the sunset with the loot.
 






Anyone think to ask how the plants got in such poor shape????

Try project LEAN......(Take money from plant maintenace and put it in directors pockets)



Wall Street Journal (mentions plant in india)


--Hospira slashes 2011 earnings projection

--CEO says problems at North Carolina facility "bigger job than we thought"

--Plant represents a quarter of the company's sales

(Adds additional details, CEO quotes and analyst quotes throughout.)


By Anjali Athavaley
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Hospira Inc. (HSP) slashed its earnings expectations for the current year because of continued production and shipping disruptions from a facility that represents a quarter of the company's sales.

Shares of the medical-device and injectable-drug maker fell to their lowest point in 2 1/2 years.

Last year, Hospira received a warning letter from the U.S. Food and Drug Administration citing concerns with manufacturing processes at plants in Rocky Mount, N.C., and in Clayton, N.C. The Lake Forest, Ill., company said Tuesday the problems at Clayton have been fixed but that it hadn't made enough progress at the Rocky Mount facility to satisfy the FDA.

"It's quite clearly a bigger job than we thought, and we are still working through it," Chief Executive F. Michael Ball said. Products made at the facility include a variety of injectable drugs, which have been a growth driver for the company.

Hospira didn't specify the plant's problems, other than it had to do with "practices and processes." Ball expects production to be slow at the facility "at least through the end of the year." The company is considering transferring production to other facilities, but Ball said "that is not a timely process."

Ball said Hospira has hired outside consultants to oversee remediation efforts at Rocky Mount and that it has replaced senior management. The company will be updating the FDA on a regular basis.

The news Tuesday differed from the upbeat tone of Hospira's investor conference in early September, when Ball said he aimed to increase gross margin through "high-quality, low-cost manufacturing." He said then that the company's plans include a new facility in India to boost capacity for making generic drugs.

"We question the long-term growth profile and targets that were provided that the recent analyst meeting on Sept. 8, which now appear to be out of reach," Goldman Sachs analyst David Roman said in a note.

Hospira shares hit a low of $29.16 Tuesday and recently traded down 19.1% at $30.21. Over the past year, the stock has declined 48%.

The company, which spun off from Abbott Laboratories (ABT) in 2004, now expects 2011 per-share adjusted earnings between $2.95 and $3.05, down from its July forecast of $3.90 to $4. Hospira said it will provide more details on its 2011 guidance when its releases its third-quarter financial results Oct. 26.

For the third quarter, Hospira projected adjusted earnings of 66 cents a share on net sales of $977 million. Analysts polled by Thomson Reuters had expected 96 cents a share and $1.07 billion.

In July, the company reported that its second-quarter earnings soared 72%, driven by strong sales in the specialty injectable pharmaceuticals group.
 






the strong survives on the weak just the way it is , if you dont know how the world works then you better grow up fast put your energy into job hunting and dont let the door hit you in the ass when you leave or when you are booted out (like most of the posters on this board)
 






Clearly the person that wrote this should be spending less time on the board and more time fixing the foundation. Good luck with that son.


Anonymous said:
the strong survives on the weak just the way it is , if you dont know how the world works then you better grow up fast put your energy into job hunting and dont let the door hit you in the ass when you leave or when you are booted out (like most of the posters on this board)
Click to expand...
 






Anonymous said:
the strong survives on the weak just the way it is , if you dont know how the world works then you better grow up fast put your energy into job hunting and dont let the door hit you in the ass when you leave or when you are booted out (like most of the posters on this board)
Click to expand...

Right. And when your a weak person and the strong people that run the company you work for run it into the ground have your resume ready to go.
 






Expect to hear more talking during next weeks conference call about India plant. News on how the crooks will keep the ship from sinking and pad their bank accounts more. (Hiring freeze, cut benefits, freeze pay increase, layoffs, Outsoursing, closing plants, moving production over seas, hire more illegals.) all genius inovative moves. That's all these boobs know. None of them have a clue as to how to grow a sucessful business.
 






Anonymous said:
Expect to hear more talking during next weeks conference call about India plant. News on how the crooks will keep the ship from sinking and pad their bank accounts more. (Hiring freeze, cut benefits, freeze pay increase, layoffs, Outsoursing, closing plants, moving production over seas, hire more illegals.) all genius inovative moves. That's all these boobs know. None of them have a clue as to how to grow a sucessful business.
Click to expand...

Yup...my crystal ball says the same thing...they will it to the staffer slaves some more and hope they get some credibility back with wall street.
 
























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