We want a retention package and a written company lay off policy

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Yes!!!! I want something in writing that in the event of dissolution of salesforce, I would get a guaranteed package. Why should I risk myself to stay here when the company offers nothing? I can only go by current facts. These current facts are that 217 is a long way off, my RBD sucks and I know is looking for another job, and Z will not be able to $ support all of us.
 








I agree as I have a family to support and there needs to be assurances and a written policy. Outside of something written, I don't believe a single word that comes out of anyone. You're safe! Bullsh%t!
If Sage has no problem telling their employees that and say it won't happen, then they shouldn't have a problem writing a policy like any other company.

I'm working with recruiters and advise everyone also. Is this really worth your health?
 












anonymous said:
I remember someone saying a week or two for each year worked in the company. Not sure how accurate that is.
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Omg. Can you imagine? Just as someone else posted a while back, employees that decide to stay would get a two week paycheck. That would be financial ruin for many families. This alone should be a reason to find something else.

I actually hope someone @ the top is reading this because they do need to have a retention package of at least 6 months salary in order to retain good employees. If they lose everyone, they lose everything. I was one of the defiant ones thinking I would stay, but now I have seen the light and know the importance of getting out of here. We have no safety net here. I heard another DM is about to leave?
 




This thread is the most important out of all the threads regarding Sage! This topic is the ticket. If they don't get some sort of retention plan, everyone should leave. I don't feel safe here anymore and tired or hearing empty promises myself.
 




There is no choice. Interview and look for other options. Don't stay at a company that doesn't have a decent severance or retention package. You always have to look at worst case scenario. If say this March they let go people in underperforming territories, what would they do??? What about the top performers? Why would they stay here? Minimally, you know the territories that haven't had enrollments will be eliminated. They say no now because they have to say that. How many times have you worked for a company in this industry that says you are safe and weeks later they lay off? It happens all the time.
 




Agreed. More resignations next week too. I've never seen such a mass exodus before! I think that 90% MBO payout and no respectful communication took everyone over the edge. This is our livelihood!!!!!!!
 




Not sure if a severance agreement stands if they get bought. That’s usually up to the other company, but would give us some peace of mind about layoffs from our own company! However- no chance they will give us this. The management with stick with their “New drug development isn’t for everyone!” Line. Get out while you can!!!
 




A retention package? Are you kidding!! Did you not listen to the earnings call? There is no way the company can afford that. And 4-6 month severance, again what are you smoking! Maybe 2 months severance if you are lucky. They want people to leave its natural attrition. Less people that they might have to lay off. And for all of us there is no value in our stock options or stock. It is all worth nothing, and if people leave and leave their options on the table that is more money back in Sage pocket that they don’t have to pay.
 




Yea, the biggest issue right now at the company is preserving cash. Starting to run on fumes. Very low chance at retention packages. Only under a big restructuring where there are significant layoffs, then maybe they give plans to the top performers.
 




anonymous said:
Yea, the biggest issue right now at the company is preserving cash. Starting to run on fumes. Very low chance at retention packages. Only under a big restructuring where there are significant layoffs, then maybe they give plans to the top performers.
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They would be foolish not to give retention plans to top performers. The company need those strong relationships and those that have created demand.
 




anonymous said:
A retention package? Are you kidding!! Did you not listen to the earnings call? There is no way the company can afford that. And 4-6 month severance, again what are you smoking! Maybe 2 months severance if you are lucky. They want people to leave its natural attrition. Less people that they might have to lay off. And for all of us there is no value in our stock options or stock. It is all worth nothing, and if people leave and leave their options on the table that is more money back in Sage pocket that they don’t have to pay.
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Agree. This seems very unlikely. We lost over 600 million last year and we want to end 2020 with money in the bank. No way that happens by making promises like this. Honestly, Idk how we cut the burn other than "pausing" Z related expenses, like the analyst suggested on the EC. Very few resignations have resulted in new postings which tells me that we aren't going to keep throwing money at Z. $2 million in sales isn't going to become $20 million anytime soon. Sage is people centric but it's also a business. No doubt that hard decisions about cuts are coming.

SAGE's special status is gone. Our "different" approach to drug development has led to negative p3 epilepsy and depression data. The street isn't going to be interested in our small early studies anymore because they haven't panned out as expected. I don't think we will be able to raise money like we did before.

If we didn't have $$$ in the bank already, we would have been toast months ago.

Keep fighting for moms but also do what's best for your family, because that is also your job. Good luck everyone.
 




anonymous said:
Yes!!!! I want something in writing that in the event of dissolution of salesforce, I would get a guaranteed package. Why should I risk myself to stay here when the company offers nothing? I can only go by current facts. These current facts are that 217 is a long way off, my RBD sucks and I know is looking for another job, and Z will not be able to $ support all of us.
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Bahaha! Snowflake Alert!
 




anonymous said:
Agree. This seems very unlikely. We lost over 600 million last year and we want to end 2020 with money in the bank. No way that happens by making promises like this. Honestly, Idk how we cut the burn other than "pausing" Z related expenses, like the analyst suggested on the EC. Very few resignations have resulted in new postings which tells me that we aren't going to keep throwing money at Z. $2 million in sales isn't going to become $20 million anytime soon. Sage is people centric but it's also a business. No doubt that hard decisions about cuts are coming.

SAGE's special status is gone. Our "different" approach to drug development has led to negative p3 epilepsy and depression data. The street isn't going to be interested in our small early studies anymore because they haven't panned out as expected. I don't think we will be able to raise money like we did before.

If we didn't have $$$ in the bank already, we would have been toast months ago.

Keep fighting for moms but also do what's best for your family, because that is also your job. Good luck everyone.
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I'm not taking away anything from your logical comments, but they can't pause Z when that is all they have. This greatly affects the overall value of the company and appearance to the financial market community. This situation isn't new where companies have had to continue to promote a drug that literally is losing money. They are banking on Z to carry the company through even if it is just for show to the outside world. More than likely, there will be cuts very soon and I do agree with you on that. But they will keep a core set of people to continue to sell and promote Z for appearances sake for the next two years. This game plan of 42 SOC unfortunately won't include territories that fall outside of these areas. That is a bold face lie. If someone has a territory with no enrollments, they should be interviewing as fast as possible.
 




How could anyone from this company convince me to stay when there is no severance package? They have to be out of their minds. Anyone that tries to convince people to stay will have to live with themselves if things go south and all the lives they will negatively affect.
 




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