Iam not sure. I would imagine with Pfizer involved, it would make the deal sweeter, so I would guess it will be at least that amount possibly more.
Retired Hospira HR Manager Taking Any Questions
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You will get the Hospira package. Won't really matter, Pfizer's is not much different.
If the deal closes in August; an earlier post suggested August 7; when will the package information be communicated to us ? Even if Pfizer want some of us, do you think we get a choice to stay or go ?
In all fairness to Pfizer and current employees, Pfizer CEO and Chairman Ian Read told analysts the following:
“We are very well aware that Hospira has a lot of talented individuals and have been very successful, as our organization has been successful, so we look to create a combined organization that has the best talent from both organizations,”
If I had to guess, I would say 60% are laid off Permanently. Of the 40% left, 35% will be gone
when Pfizers spins GEP off within 12-18 months. The last 5% which are the best talent Hospira had will stay permanently at Pfizer and possibly work thier way up the ranks
“We are very well aware that Hospira has a lot of talented individuals and have been very successful, as our organization has been successful, so we look to create a combined organization that has the best talent from both organizations,”
If I had to guess, I would say 60% are laid off Permanently. Of the 40% left, 35% will be gone
when Pfizers spins GEP off within 12-18 months. The last 5% which are the best talent Hospira had will stay permanently at Pfizer and possibly work thier way up the ranks
He'll, no. They will determine head count and go from there. You will not have a choice. The only possible one will be to go if you are retained, but in previous buyouts, you did not.
They may offer a quick initial completely voluntarily package BUT they will also try to manipulate you, explaining IF you "decide to ride it out" the initial offer is off table and nothing in terms of severance or a job is guaranteed. The closer to retirement you are, the harder they will try to get you to sign off on everything and leave. I wonder what happens to 401k and Retirement Pension and Medical benefits ? You can be sure the various upcoming cuts will be implemented on a seniority basis. Performance/Ranking WONT be a factor. It's not going to matter, it's going to be a bloodbath in terms of lost jobs
In all fairness to Pfizer and current employees, Pfizer CEO and Chairman Ian Read told analysts the following:
“We are very well aware that Hospira has a lot of talented individuals and have been very successful, as our organization has been successful, so we look to create a combined organization that has the best talent from both organizations,”
If I had to guess, I would say 60% are laid off Permanently. Of the 40% left, 35% will be gone
when Pfizers spins GEP off within 12-18 months. The last 5% which are the best talent Hospira had will stay permanently at Pfizer and possibly work thier way up the ranks
Read tells you straight up, Pfizers going to "combine" it's current employees into current Hospira positions. It can't be any clearer on what's going to happen.Huge Job Cuts !
Good Luck !
If you currently, or EVER were on a PIP, It's Red Flagged on your company record ALONG with ANY dealing whatsoever (even 1 incident) that involved HR, including chronic excessive lateness. YOU are History if you meet ANY of these criteria
BOTH of these protocols are fully implemented and will continue until deal is complete. After that, Pfizer will Own ALL stored data relating to EVERY aspect of Hospira starting from inception to takeover date
will they interview anyone ? or when they turn up to Hospira have they already made up there mind ?...
and do you think it will be close, then the people are done ? or will it be close the deal, evaluate, then make a decision ? i would think they would need some time to integrate ? or will their Pfizer machine just steam roll the place ?
and do you think it will be close, then the people are done ? or will it be close the deal, evaluate, then make a decision ? i would think they would need some time to integrate ? or will their Pfizer machine just steam roll the place ?
I cant answer I may be free lancing for Pfizer I just got the call Friday. 1 year contract that would involve no more than 10 hours a week for 45k I would have full access to all employee data including Hospira employees after deal closes My attorney is letting me know if it violates my separation agreement Pfizer know my deal and still called me
You are so full of shit. Pfizer needs you like a bull needs tits. They have enough losers already, why would the want another, especially one who was fired for incompetence! Go back onto your hole and just shut the f&$@ up!
Here's the deal, I had a friend who worked for Pfizer a few years back. He was a Pfizer equivalent to a National All Star / Circle of Excellence winner 4 times, top performed every year, made a district manager. They did 2 or 3 employee cuts that year and he was included. A stellar sales rep, company man to the inth degree, no black marks EVER. Just to let you know how they treat their loyal established, high performing employees. No offer to relocate him and stay, nothing but the door.
Yep, that's Pfizer! Saw it a hundred times while they kept the real dogs.
Pfizer management has it's heads so far up their asses they couldn't hear a bomb go off.
Reads perception of Hospira as a "Successful Company" is somewhat of a distorted view. In reality He's gauging that statement on stock performance. Keep in mind big investors Knew Hospira would be acquired sooner or later and they were waiting for it to happen since 2003 Thats what kept the stock from nosediving amid massive recalls and remediation Bio Sims is the other reason.In the end, the master plan initiated by Miles was executed They didn't bank on it taking 12 years they thought it would take 6-8 tops. CEO/VP and major stockholders level will be the ones who reap the benefits. Its a damn shame these cut throats are so greedy and blinded by money, power and greed. The more you got, the more you want at any cost. These
pricks won't lose any sleep over it.Yet others will have many sleepless nights pondering how they can possibly pay bills mortgage ect. and ever recover Ive been there at one point (yes even hr guy) and believe me It's scary as hell, BUT It makes you stronger and more thick skinned and it eventually will work out for the better You must trust yourself and think positive and act positive and the results will amaze you. Do you think I bash Hospira/Abbott for fun. I paid the price for eventual financial security through legal fight. Money won't erase bad memories and they linger still I never forget an enemy
The pension will be untouched due to federal law and the fact it is in trust. The 401 has several ways to go. One would be to roll over to an IRA or if you get another job you can most likely folk it into the new employers plan assuming they have one. As to the retirement medical benefits (you must be an old Abbott employee) it isn't worth shit. Think $660 per month or more my info is 3 yrs old and it won't cover anything that another plan doesn't cover assuming you have something else. Say for example you are medicare qualified- if the Abbott plan would pay $2500 for a small surgery and Medicare would pay the same amount $2500 but he bill is $3500 Abbott would pay nothing. If the bill was $3500 medicare would pay $1500 and the Abbott plan would pay $2500 then Abbott would kick in $1000 to get to the $2500 but they would not pay the whole $2500 which would get you the full amount. You are better off getting Blue Cross
What pension? 401 K can be rolled into Fidelity via Pfizer. Medical will be Pfizer.
OK- the person was asking about retirement benefits, those who had been with Abbott at the spin and had 10yrs and were 50 yrs old or older retained the option to use the Abbott retirement medical benefits. The same with the Abbott pension. The pension was frozen at the end of 2004 and couldn't grow any more after that. Also those who paid into the pension plan will get something in the form of a pension when they retire, though not as much as those who were in the 50 and 10 group. Up until now Hospira would not let someone take their retirement early while still with Hospira even though they were entitled to it. What Pfizer will do is unknown. What is known is that the pension is in trust and will still be there. Post spin hires to Hospira get nothing other than their 401s which as you said can be moved to Pfizer. For those people they will probably do better with Pfizer since Hospira's plan just barely met the legal requirements for a 401k
Maybe Iam not understanding, You couldn't have an Abbott pension/medical if you worked for HSP! The ONLY exception was is you were rehired by Abbott after 2 year no hire rule expired. OR You were the people usually with 20+ years senoriority that were given the option to TEMPORARLY stay at Hospira after spin for several months and guaranteed Abbott package THESE are the only people that actually worked for HSP but left with Abbott package.
HR eek:U S A GUY
HR eek:U S A
GUYThere are some of us spinners who are still with HSP and will collect a (small) pension from the Abbott/Hospira transition annuity plan when we leave. I guess since the majority of us are likely to be "leaving" (not of our own free will) we will want to start collecting soon. The question I have is the date of Pfizer purchase the last day at Hospira for pension calculation purposes - regardless of when we actually leave after the purchase date?