Over the last 15 years, Pfizer has actively minimized it's long-term costs by directly laying off tens of thousands of employees and also "encouraging" the departure of tens of thousands more. At the start of this mess, those in "protected groups" (an actual legal term) technically included employees over 40, but the white males had very little chance of successful age discrimination claims unless they were over 50 (and no chance for promotion) when they were pressured out. Hence, Pfizer was hesitant to target for removal those employees over fifty, in general, as those law suits would have made getting rid of those employees very expensive. Thus, we now have a much older sales force (average age is 51), with a smattering of contract reps and some very young reps that make very little and have virtually no impact on long-term costs (no pension for you!). So, those that were older back then are now retiring employees who are reaching that coveted goal, but it is indeed a shrinking group.
As a former senior manager, I can assure you that this is all true and accurate. Merck's demise began with the CIA and was accelerated with the greatest series of R&D failures in pharmaceutical history. In short, Pfizer is where it is by its own accord. It's sad that more than half of the company's employees have been separated since then, with only a fraction having been replaced at a much smaller cost to the company, all because this company was so horribly managed.
As others have indicated, it is truly tragic that Pfizers "leadership" has profited mightily since this all began.The billions of dollars (literally) paid to those executives who conceived and implemented the plan to sever the financial ---and often mental---health of our own fellow employees could have been used to soften the blow to those former employees and their families considerably. Instead, Pfizer's "leaders" have quietly enriched themselves while destroying countless lives with reckless abandon. It is truly shameful.
The anonymous nature of this forum affords me the opportunity to share this with you. Most of us with legal exposure to sharing information like this simply take their cash and drift away. I simply can't fail to acknowledge that thousands of very good people were made to look guilty as they were dismissed or, more often, pressured to quit by very underhanded means. It is a disgraceful organization.
As a former senior manager, I can assure you that this is all true and accurate. Merck's demise began with the CIA and was accelerated with the greatest series of R&D failures in pharmaceutical history. In short, Pfizer is where it is by its own accord. It's sad that more than half of the company's employees have been separated since then, with only a fraction having been replaced at a much smaller cost to the company, all because this company was so horribly managed.
As others have indicated, it is truly tragic that Pfizers "leadership" has profited mightily since this all began.The billions of dollars (literally) paid to those executives who conceived and implemented the plan to sever the financial ---and often mental---health of our own fellow employees could have been used to soften the blow to those former employees and their families considerably. Instead, Pfizer's "leaders" have quietly enriched themselves while destroying countless lives with reckless abandon. It is truly shameful.
The anonymous nature of this forum affords me the opportunity to share this with you. Most of us with legal exposure to sharing information like this simply take their cash and drift away. I simply can't fail to acknowledge that thousands of very good people were made to look guilty as they were dismissed or, more often, pressured to quit by very underhanded means. It is a disgraceful organization.