Layoff of 170
Make sure you understand the benefits offer. Unless you already have another better job.
Ask for a list of these 170. And who is processing the event. Do not get impressed by lowly HR supposedly helping you. They help the company to fool you.
These are general things on layoffs. Knowing more details could be helpful
The culture has changed completely, the leadership has no vision and can't make decisions, they encourage us to churn out profitable ideas while lying to our faces that "patients first"
I work for a company that everyone is excited about, great group of people, and we know we have a solid future. I have worked as a pharma rep at Bayer and many larger pharmaceutical companies. Here at Esperion we are dedicated to growth and we have the best medications NEXLETOL and NEXLIZET which will be a big hit, taking 50% from the PCSK9 spot in the industry, script sales are accelerating fasting than we anticipated
Do not give any presentations. They may pickup the information, use it and offer you nothing. This should become general rule everywhere. If you give presentation, it should be only on your published work repetition, not even literature review since they will ask you for opinion. If you do not have publications to present again, you may either politely decline, or do literature review with comments exactly as published papers. Watch out the stock options and other incentives.
Bayer shows the way:
https://www.biospace.com/article/bayer-eliminates-nearly-half-its-executive-positions-in-major-overhaul/
There are many vice-presidents and directors at Biomarin, who just go to the meetings and avoid real responsibilities. These should be pruned, not the lower level people who do the work. Check the next layoff list.
If you manage a project beware of too many stakeholders. This is like a project in a project, managing stakeholders that may have opposite agendas and expectations. Some are more important than others. Some want to be important and try to impose their demands upon project manager. You cannot ignore any, since they can have connections and try to hurt you later. This stakeholder management adds unnecessary workload and causes a lot of stress. Not to mention it could negatively affect the main project. Thousand Oaks is a nice location, but not the people.
New CEO is working the stock price down. Good news will be coming after stock drops below 70. His ex-parent company could be interested in M&A step. Will be still much less to pay than at $100 per share. Good job, CEO. And there will be laypoffs for better bottom line. CEO got good experience in this at Genentech.
I was a full-time actor/host/writer but switched to voice work when Covid hit; and now the industry I loved has changed. I also no longer get to work with people as much, and do not feel like I’m helping others as much as I hope to. I want more purpose and human interactions.
Stock volatility reflect the chaotic management style. The short term or daily investors welcome this since they can experience stock price changes within a few percent almost every day. As in old saying, chaos can provide opportunity.
The stock dropped 4.27% today after the yesterday announcement of 170 person layoff. This demonstrates lack of investors confidence in the company management. The company must reshuffle the top management ranks to convince investors that positive changes are coming. Example can be recent cutting off several R&D projects - clearly telling investors that company was pursuing wrong goals. Who was responsible? Layoffs should proceed across the whole organization.
