Novartis Insider - What todays announcement really means

[anonymous]

Don’t ask who I am - doesn’t matter. I’ve been in planning meetings about todays announcement since late last year and tipped you off a week ago about todays announcement.

Bottom line is this: There will be MANY more cuts. Conversations at the board level relate to the flat to declining stock price over the past decade - and what can be done to turn it around. You either grow the top line or you cut expenses. Vas is under a lot of pressure to right the ship. If you parse the release - you can read between the lines:

“Both units will assume full P&L responsibility across all therapeutic areas and leadership of customer experience, marketing and sales and market access for each unit’s respective markets.”

This is code for - we have many redundant positions across all therapeutic areas and will cut to manage P&L.

Good luck to everyone.

You don’t know shit. Anyone could have seen this coming!

 

[anonymous]

When will they start the layoffs? Will it be done in waves? I saw that Taai is leaving in May. Is that when they will start?

 

[anonymous]

Don’t ask who I am - doesn’t matter. I’ve been in planning meetings about todays announcement since late last year and tipped you off a week ago about todays announcement.

Bottom line is this: There will be MANY more cuts. Conversations at the board level relate to the flat to declining stock price over the past decade - and what can be done to turn it around. You either grow the top line or you cut expenses. Vas is under a lot of pressure to right the ship. If you parse the release - you can read between the lines:

“Both units will assume full P&L responsibility across all therapeutic areas and leadership of customer experience, marketing and sales and market access for each unit’s respective markets.”

This is code for - we have many redundant positions across all therapeutic areas and will cut to manage P&L.

Good luck to everyone.

What does it mean for CTS Hyderabad (India)? Any insights pls?

 

[anonymous]

i hear D day is May 2

 

[anonymous]

I had to reply to this thread even though it’s
Months later. I have said the manager role is antiquated for years now, only to recently learn that the pressure is on managers in all divisions to increase field activity. Apparently the new CE head feels more manager days in the field is going to drive business. And rep tracking KPI spreadsheets are back. What a shame to see this company go down the toilet