Urgent Teleconference @ 1:30 tomorrow; Layoffs are Coming!!

[anonymous]

A word of advice to those that are about to be cut. Last laidoffed employees were provided a severance in one check. If they do this again you might take a big tax hit since you will be in a higher bracket. One option you have to lessen this impact is to save 25% or higher if you can in the 401K. Although since the layoffs will be at year end the severance payments will probably be paid in 2018. If you are a long term employee it is conceivable that you might get a payout that could double your annual salary if paided out in the same year. Something else you will find is that any money you have as after tax in your 401K, You will have the option to roll all of that into a Roth IRA. Again if you can you have a very short window but the payoff especially in opting for a Roth can be very beneficial.

Might as well get the company car serviced, new brakes, new snow tires, etc. In case I get the option to buy it. Also going to use all of my 40 volunteer hours. Might even look at a matching gift to my old alma mater to lock in some season tickets. Any other ideas? Oh yeah, lots of office supplies, especially ink cartridges.

 

[anonymous]

Might as well get the company car serviced, new brakes, new snow tires, etc. In case I get the option to buy it. Also going to use all of my 40 volunteer hours. Might even look at a matching gift to my old alma mater to lock in some season tickets. Any other ideas? Oh yeah, lots of office supplies, especially ink cartridges.

2017 is the last year Merck will match gifts to organizations for retirees. Many of you will be in that camp soon. Sorry to say. You have until year end to make gifts for company matching. The total is 10,000 per year. Good Luck.

 

[anonymous]

This is ugly folks. Over 50% of PC will be cut.
I say cut Frazier salary by same %

Just cut Frazier. I don't see a leader here. He left the president's advisory board, didn't want to play, took his toys and stomped home.

 

[anonymous]

Maps going out to deli slingers of Taco Bell openings throughout the US. "We're hirin, come on in". Free lunch provided with each shift, perks include a free bus pass. Ctl's, were hirin shift managers, come on in, full time salary is 2300 per month. No tc' s, field email or samplin.

Lol

 

[anonymous]

Might as well get the company car serviced, new brakes, new snow tires, etc. In case I get the option to buy it. Also going to use all of my 40 volunteer hours. Might even look at a matching gift to my old alma mater to lock in some season tickets. Any other ideas? Oh yeah, lots of office supplies, especially ink cartridges.

Keep anything with Merck logos, award rings, plaques, VP awards, old pens and giveaways. Merck is going down the shi##er fast and will be non-existent in a few short years. People collect this stuff, hello EBay. And to my ctl, effu, I've got two district projectors on EBay right now, fu.
As for the car, I'm not buying it but since the news I've been driving it like I stole it. Running over curbs, dropping the transmission at signal lights, donuts in parking lots. I've also been smoking cigars in it with my two 80 pound labs in the rear seat, one has incontinence. Fu Merck.

 

[anonymous]

Hospital Reps are finished, no chance for placement vs an established Primary Care Rep

Hospital reps can find a position at another company.

 

[anonymous]

Keep anything with Merck logos, award rings, plaques, VP awards, old pens and giveaways. Merck is going down the shi##er fast and will be non-existent in a few short years. People collect this stuff, hello EBay. And to my ctl, effu, I've got two district projectors on EBay right now, fu.
As for the car, I'm not buying it but since the news I've been driving it like I stole it. Running over curbs, dropping the transmission at signal lights, donuts in parking lots. I've also been smoking cigars in it with my two 80 pound labs in the rear seat, one has incontinence. Fu Merck.

LMAO

Definitely in spending mode over the next 6 weeks. I feel like a doomsday prepper.

 

[anonymous]

Biotech? Good for you for getting out years ago and earning the big bucks. Unfortunately very few Merck reps, even in the good old days, are able to land a job in biotech. Those companies look for pedigrees, you know, country club types: smart, connected, attractive and well below the 50 year old mark. The process for joining places like Celgene, Amgen, Genentech is brutal. Of the 900 severed soon, maybe 5 in the entire US might get hired within biotech. OP, please don't give false hopes, pc/hospital reps at Merck should be looking for contract rep jobs paying 50-60k. If you are one of the 5 who biotech answers your call expect the hiring process to take 6 months. Also expect 6 phone screens, multiple live interviews, psych test (yes), wicked background tests,etc. Panel interviews are brutal, high level reprint discussions while getting peppered with questions. Then, if hired, boot camp training is nasty with 50% of hires sent home for not making the grade. Folks, just being honest, it's doggy dog out there right now.

Signed,

Merck guy laid off 2 years ago, now at hq at GENE.

Went to Amgen 10 yrs ago. Yes, the process is unnecessarily brutal, but if you play their game, tell them what they want to hear, make them believe you believe all their bullshit about how everyone is a super star, and you have to be God to stand out on their ethereal cloud, you have as good a chance as anyone.
Once hired you will find as I did that it's no different than pharma, just a different name. The only real difference is that you need to produce or you will be gone. Not that hard because the products sell themselves and have little or no competition.
There are as many slugs, losers, and assholes here as there are in any company. What is accurate is the "pedigree" or facade. If you're one of the pretty boys or girls you have a better chance of being hired. I was fifty when I was hired. I'm no Adonis, dress well, had a very good track record, and took no shit from the interviewers, panels, and basically sent the message that they would be fortunate to have me. I acted as arrogant, entiltled, and egotistical as they did. I also had contacts and relationships with key people they didn't. Some of these Drs. called in unsolicited recommendations to the Amgen brass.
Bottom line, SOS, different company. Sales are sales. If this is what you decide to do if let go, just do it. Don't be intimidated or show any fear or doubt and you will have as good a chance of being hired as any one else.

 

[anonymous]

Keep anything with Merck logos, award rings, plaques, VP awards, old pens and giveaways. Merck is going down the shi##er fast and will be non-existent in a few short years. People collect this stuff, hello EBay. And to my ctl, effu, I've got two district projectors on EBay right now, fu.
As for the car, I'm not buying it but since the news I've been driving it like I stole it. Running over curbs, dropping the transmission at signal lights, donuts in parking lots. I've also been smoking cigars in it with my two 80 pound labs in the rear seat, one has incontinence. Fu Merck.

 

[anonymous]

OMG - thanks for the laugh!! Good luck to you all - but you have to keep your sense of humor, too!

 

[anonymous]

Went to Amgen 10 yrs ago. Yes, the process is unnecessarily brutal, but if you play their game, tell them what they want to hear, make them believe you believe all their bullshit about how everyone is a super star, and you have to be God to stand out on their ethereal cloud, you have as good a chance as anyone.
Once hired you will find as I did that it's no different than pharma, just a different name. The only real difference is that you need to produce or you will be gone. Not that hard because the products sell themselves and have little or no competition.
There are as many slugs, losers, and assholes here as there are in any company. What is accurate is the "pedigree" or facade. If you're one of the pretty boys or girls you have a better chance of being hired. I was fifty when I was hired. I'm no Adonis, dress well, had a very good track record, and took no shit from the interviewers, panels, and basically sent the message that they would be fortunate to have me. I acted as arrogant, entiltled, and egotistical as they did. I also had contacts and relationships with key people they didn't. Some of these Drs. called in unsolicited recommendations to the Amgen brass.
Bottom line, SOS, different company. Sales are sales. If this is what you decide to do if let go, just do it. Don't be intimidated or show any fear or doubt and you will have as good a chance of being hired as any one else.

Great post, and absolutely true. I was layed off seven years ago by Novartis and I got a job three weeks later with AstraZeneca making a higher base. My attitude was exactly like yours, you guys are lucky to have me. Plus, my Docs also wrote me letters of recommendation. I realize today pharma is simply a year to year job, but I have lasted 29 years so regardless of the future I feel like I have had an excellent run! Plus, I have $1.5 million in my 401k and I am 53. If I don’t add another dime to my 401k it will probably double by the time I am 61 and ready to retire. This is my advice, don’t take money out of your 401k no matter how long you are unemployed! Get a part time job while you are looking, but let your money grow so you can retire on your terms and not your employers!

 

[anonymous]

#106 First of all not all Parma companies have hospital reps. Secondly it depends upon your age. For example? 48 is easier than 58. Someone at 28 may not have a spouse and kids that is more benefits for medical, etc. Do not assume anything nor that a displaced person will find the same benefits or salary, etc.

 

[anonymous]

#111 You were extremely lucky and not the norm. If it happened to you at your age it would be more difficult. A person receiving unemployment cannot work part time unless it is off the books. It would affect the benefit.