The Big Layoff

[Anonymous]

So the consensus of reporters, employees, pharma cafe, is that B+L is going to have a big layoff.

The only debate is how many? and when? The high end estimate is 60%. The earliest date is Aug 7.

Not much more to say about this other than to just wait it out and see. When Valeant refuses to talk to reporters about this they just confirm the worst fears. Valeant could say that the layoffs are more in the 20% range and will be announced in Sept. Instead Valeant says nothing. They must enjoy instilling fear in their workers and in the community.

Very poor communication skills by the Valeant management team. They must be real amateurs.

 

[Anonymous]

They gave a number. 800 million. B&L management knows exactly what that means. Until the deal is done and the keys are passed, who says it is valeant's responsibility to tell joe in manufacturing whether or not he is safe. Not realistic.

I originally thought most of the sales force would be safe but didn't know B&L went to a 2 person pod in each territory. Bad news for rx. Expect half of the pharma team to get let go. From what I know of valeant, not their style.

 

[Anonymous]

I'm sure that they have perfectly fine communication skills. They just couldn't care less if people get upset and morale goes to crap.