There will be layoffs don't be naive; cities w 4 + get ready to go w 2 and larger Terr
So Valeant is really proud of stating they are going to have 800 million in cost reductions. So did they say how they are going to achieve this? There is some overlap between the businesses but not much.
So fess up. Who is going to get cut and when.
Guys, They'll need the salesforce, but they'll trim your base if it's high. 80% of the salesforce will stay. Get ready for terms like "best of the best" to get thrown around constantly.
Valeant will gut the home office. All of the non commercial support roles HR, R&D, Accounting, Legal, IT, etc.
What's considered high? Their salaries are btw 85-90 which is still higher than mine. Their target bonus is 40k, which is higher than ours....
They don't have high base salaries, most will be lowered to 50k, and now we have to work under the pharma code. No more buying the business and leveraging one product for another.
This is only if they keep you. Also, the severance package is a week for every year.
check glassdoor. website. avg sales rep make 63k. with a spread of 50 to 70. a regional sales manager makes 85 with total comp at 120.
not good numbers at all. very basic big pharma entry level numbers.
So true, the hammer has dropped on us all. If any of you is keeping hope that everything is going to be ok, you're sadly mistaken. The old days are over, it's time to look for the next up and coming player to work for. Valeant is a death sentence. The fat lady has finished her song.
