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Thankfully not mine. Just saw in the news that a big US pharmaceutical company axing 10,000 people, about 10% of its workforce, on top of the 8,000 that went last year. That's 18,000 people :eek: :rant:

I am all in favour of capitalism, don’t get me wrong, but that doesn't mean I necessarily "like" it. To think of this mass of people (and related families) now without a job really stinks.

Presumably, it won't be easy to find another one given whole division were cut and everyone in there is probably sending their CVs to the same companies.

Very, very sorry for them :(

I know how traumatic it can be to lose a job and don't wish it on anyone.


Rant over.
 

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heard about this today, their main site in ireland, down here in cork, has been told that the 1,000 jobs here in cork are to remain for the time being.

must be awful for those people.

would devastate the local economy if any jobs were to go here in cork
 

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When you go in for a job interview next, I think a good thing to ask is if they ever press charges.

Sorry bad gag! Its bloody criminal I think.
 

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news like this is nearly a daily occurance where i work, often hearing of people being let go, only last week 100 jobs cuts where made. Just before the end of last year the company let 10,000 people go globally and have now told us one of our fab's in the the US is being put up for sale.
Really just hope i don't come into work one day to be told the same thing.
 

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And the other thing that I can't stand is that now that these guys have announced big cuts, all the other competitors "will be forced" to follow suit. So, another few thousand people will be put on the street. :rant: :mad:

- BigCommunistFoot
 

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Is this Wyeth? - they've a big setup (only a couple of years old) in Dublin, out in the suburbs... they were aggressively hiring up to end of 2006!
 

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BigFoot said:
And the other thing that I can't stand is that now that these guys have announced big cuts, all the other competitors "will be forced" to follow suit. So, another few thousand people will be put on the street. :rant: :mad:

- BigCommunistFoot
I hope you're wrong :eek:
Since I work for one of their competitors. Given their justification for this mass layoff, I wouldn't expect it to necessarily effect other pharma companies. As you can see from the news story, it's not to do with their level of success - their profits doubled last year! It's purely to do with the fact that their most successful brands are due off patent this year. At that point, 'generic' companies are allowed to start production, and since they haven't paid anything at all for R&D, they can produce at ridiculously low prices - basically it means that it is unprofitable for the original company to try to sell the drug at all.
This means that Pfizer have a large, sudden drop in income coming up, but it's not an industry wide thing.
 
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Ahh. The US style of doing business!

Once your quoted on the stockmarket,
you're a slave to the ticker-tape.

Must keep the stock up!

If your profits aren't >+15% year on year,
the only way to boost profit is to reduce costs.

Easiest way to reduce costs is fire people
and get the rest to pick up the slack.

Welcome to the world of Mr Gordon Gekko.
Enjoy as the world slides down the pan.
 

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Jobs aren't for life anymore, re train new job easy as that. No good wandering about grizzling about it, lets hope these people had insurance for redundency etc instead of being up to there eye balls in credit card debt.
 

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Don't know what function these folk performed, but if their former employer's going to stay in business, they could find themselves re-employed in or even forming service companies servicing their old employers! It seem to happen in the auto industry and elsewhere. Someone gets a medal for cost-cutting, then another (maybe even the same) someone gets another for outsourcing the function!
Don't lets be fooled that these things are entirely driven by sound business, often as not it's fashion and greasy-pole acrobatics!
 

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Discussion Starter #15
sparkoniocv said:
Jobs aren't for life anymore, re train new job easy as that. No good wandering about grizzling about it, lets hope these people had insurance for redundency etc instead of being up to there eye balls in credit card debt.
I know mate, but often the cuts are due to management blunders and whatnot and can't help feel very bad for masses of people being laid off all at once.
 
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