Amgen denies opportunities for American citizens by actively sponsoring H1B visas, mostly from India and China. Amgen could claim they hire the "best", but they really mean they want to control scared and obedient people and pay low salaries. But there is no loyalty and often the American know how is transferred to other countries as well.
Another layoff was announced. This time 225 people.
CEO keeps busy to make a company an appealing target for M&A. We should worry when a next layoff might occur.
Goal is selling a skeleton.
There is too much unnecessary and nonproductive weight. For example, such departments like Technical Development should go. There is a lack of understanding there what technical development is and what it should do, and the company current plans may have it as a burden, rather than an asset in any M&A process.
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
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.
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.
Is Biomarin a candidate for takeover?
The attractiveness of a company as an acquisition candidate depends on various factors beyond just its financial metrics. To provide a rough estimate, let's assume a P/E ratio of 65 and a market capitalization is ﹩17 billion.
To calculate the annual net profit that would make the company attractive, we can use the formula:
Market Capitalization = P/E Ratio * Net Profit
Rearranging the formula, we get:
Net Profit = Market Capitalization / P/E Ratio
Using the given values:
Net Profit = ﹩17 billion / 65
Net Profit ≈ ﹩261.54 million
To make the company an attractive candidate for takeover with a market capitalization of ﹩17 billion, a P/E ratio of 65, and sales of ﹩2 billion per year, it would need to generate an annual net profit of approximately ﹩261.54 million.
How could it get there in 2024?
Expect layoffs.
