what happened this week with bonus cuts at Memphis HQ?

Management needs to fire more people and sell off more assets now that the GYN buyback has run dry so they can keep paying themselves large bonuses and stock rewards. Anybody listen to the earnings call? Olivier is a such a dope. What an ego for a guy who has no idea what he's doing.
 






Lay off all the experienced R&D folks this year. Charge severance costs to Exceptional Funds which dry up at end of year. And then it's cheaper next year when you've got low cost no experience R&D folks running around. But that savings goes away when this new R&D President brings in his own posse -- and he makes them all SVPs and VPs, just like Stober did with his cronies from Hospira.
 












Bonus cuts in Memphis related to bonus harmonization. Different businesses Wound Ortho Endo had different bonus levels per position level or global compensation framework. Business put everyone on lowest level. My bonus cut 5%. Same for folks under me. Others got hit more.
 






I wonder if S & N is flirting with a discrimination lawsuit? They routinely "layoff" the more experienced employees and they use feedback from fellow employees to tarnish excellent personnel. The most negative comments are from those in quality and operations when it was their responsibility to protect the integrity of the product lines. The folks who got laid off developed countless products generating millions in recurring revenue. I'm sure the new R & D President knows a lot about orthopedics. Believe that and I can tell you another.

Your comments about quality and operations are puzzling as it is all of our responsibility to protect the integrity of our product lines.

A reduction in force was financially required so they laid off a group that wasn't producing anything of note. There will be no impact to current revenue and that's all they care about right now.

-frenchy
 






Brilliant asshole, as the Extremities Sales force is the most taxing of them all and doesn't contribute shit with the exception of case coverage for trauma. You guys are a fucking shit show!!!!!
 






Brilliant asshole, as the Extremities Sales force is the most taxing of them all and doesn't contribute shit with the exception of case coverage for trauma. You guys are a fucking shit show!!!!!

Shit. The guy you blew last night didn't even have the decency to give you a towel did he. Southern gentlemen my ass.

Sales force is next, dipshit.
 












A few years back when the implants were being recalled operations and quality did a masterful job blaming everyone else when it was the factory who was dragging implants around on the floor in mesh sacks. Operations and quality pointed the finger at R & D and they proceeded to destroy the reputation of the team that grew the Sports Medicine franchise ultimately allowing the Arthrocare team to come in and take over. So when you fired the Extremities team there were people in that group who created the products that are feeding your families.
 






A few years back when the implants were being recalled operations and quality did a masterful job blaming everyone else when it was the factory who was dragging implants around on the floor in mesh sacks. Operations and quality pointed the finger at R & D and they proceeded to destroy the reputation of the team that grew the Sports Medicine franchise ultimately allowing the Arthrocare team to come in and take over. So when you fired the Extremities team there were people in that group who created the products that are feeding your families.

Congrats for creating 2nd class products. This person definitely laid off and overvalued their contribution.