Next round June 30th???

[Anonymous]

Anyone else hear the same thing? Don't think they will wait until end of year again. All the talk in Vegas about how we are where we want to be is garbage. More cuts but how will they do it this time?

 

[Anonymous]

With DE proposing a $1B cost reduction in 2011, it's coming down to field BIG time mid yr!

 

[Anonymous]

Yep, be prepared, makes sense, cause most of the people cut that is about when the severance would have ended for them, they didn't want to do too many at once and take the big of loss, since Feb. 26th all the severance money hits!!! Be prepared and be looking!!

 

[Anonymous]

Good lord please let it be me this time!

 

[Anonymous]

Good lord please let it be me this time!

I'll keep milking them until June, no need to worry about metrics, just keep pretending to play the game WHILE LOOKING FOR A REAL JOB in parallel

 

[Anonymous]

From the home office here. Oncology is next. Going down to 3 sales forces - Onc 1, 2, 3 portfolio selling and small PNET specialty force. Those getting within 5 years of retirement will get a buyout, others will be "displaced". Good luck everyone. June seems to look correct.

 

[Anonymous]

From the home office here. Oncology is next. Going down to 3 sales forces - Onc 1, 2, 3 portfolio selling and small PNET specialty force. Those getting within 5 years of retirement will get a buyout, others will be "displaced". Good luck everyone. June seems to look correct.

Thanks for the info. Any word on mass market?

 

[Anonymous]

can you get let go on maternity leave or about to go on maternity leave. or are you safe

 

[Anonymous]

what does novartis consider retirement age ? if your 55 with at least 10 years employment a buy out would be an interesting offer,especially if they paid you up to age 62 or something similar.

 

[Anonymous]

what does novartis consider retirement age ? if your 55 with at least 10 years employment a buy out would be an interesting offer,especially if they paid you up to age 62 or something similar.

interesting, yes. probable, no. dream on.

 

[Anonymous]

You have to have met the requirements I believe it was age plus years of service had to equal either 70 or 75 this was done two or three years ago. There is no pension program for you unless you met those requirements. Most of the tenured people who were let go fell into the grandfathered in category, that was part of Novartis's plan to reduce compensation. There is no fixed pension program just enhanced 401K

 

[Anonymous]

June 30th has been confirmed

 

[Anonymous]

a handful of reps. 55+ y.o and 20+ yrs exp. remain, interesting to see how they are approached next go around.

 

[Anonymous]

Age plus years of service = 70 to 75 combined....that's a third of oncology!!

 

[Anonymous]

can you get let go on maternity leave or about to go on maternity leave. or are you safe

No, you're not safe on maternity leave or any other type of short term disability.

 

[Anonymous]

thank god. Think I'll make this " the summer of George"

 

[Anonymous]

I'm skeptical about this info, have 25 years with Novartis and have never seen them give an early buyout....other companies have, but not Novartis. It would be great if they did, I think many reps would take it as long as the medical credits came with the package...we shall see!

 

[Anonymous]

true, novartis has resisted the buyout, the only difference now is that there are fewer tenured reps so such an option may be more cost effective than previously.
Look, things are changing so fast that having high paid reps doesnt make sense. I dont care how tenured you are, the days of moving market share is not what it use to be. Relationships and creditability use to mean a lot but now access is limited and physicans have lost power to the insurance companies.
Replacing a tenured rep. with a newbie may not make that much difference to a territory yet it saves Novartis a ton of money in the long run ( grandfathered into pension plan etc).

 

[Anonymous]

true, novartis has resisted the buyout, the only difference now is that there are fewer tenured reps so such an option may be more cost effective than previously.
Look, things are changing so fast that having high paid reps doesnt make sense. I dont care how tenured you are, the days of moving market share is not what it use to be. Relationships and creditability use to mean a lot but now access is limited and physicans have lost power to the insurance companies.
Replacing a tenured rep. with a newbie may not make that much difference to a territory yet it saves Novartis a ton of money in the long run ( grandfathered into pension plan etc).

So true...thank you for the commentary Mr. Jimenez. Did you or Senior Leadership take cuts in bonus or salary? I think NOT. I bet your bonus is massive as you and the "upper-crust" continue to screw the employees as well as the stock holders. Congrats!

 

[Anonymous]

I know many reps in Oncology that are 50+ that would take a buyout as long as it was comparable to market conditions (IE 2-3 weeks of pay for every year of service in a lump sum, adding 5 years to pension/medical) this would be a win/win for everyone, and allow younger reps with less tenure to keep a position, allowing older reps nearing retirement to leave with a package. Lets hope that upper managment does the right thing!