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Old 24.09.2018, 19:51
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Major layoffs at Novartis?

Swiss newspapers full of rumours that tomorrow (Tuesday) will be an announcement
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Old 24.09.2018, 20:31
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Re: Major layoffs at Novartis?

What? No link? Very unlike you.
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Old 24.09.2018, 20:41
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Re: Major layoffs at Novartis?

German: https://www.blick.ch/news/wirtschaft...id8883452.html
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Old 24.09.2018, 21:09
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Re: Major layoffs at Novartis?

Getting the same info from 'the horses mouth'.

Tomorrow at 8am the big announcement commences.
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Old 25.09.2018, 07:59
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Re: Major layoffs at Novartis?

Novartis Business Services (NBS) - 700 going from Basel over 4 years.

Impacted to know by December.

2000 overall from Switzerland !

https://www.swissinfo.ch/eng/pharma_...-2020/44423572

Last edited by Fish Paste; 25.09.2018 at 08:48. Reason: link
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Old 25.09.2018, 09:10
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Re: Major layoffs at Novartis?

Same shit, different day, really.

They'll probably do what they've always done in the past from what I remember: rehire them all on external contracts. After all, this has nothing to do with money, let alone profitability (lol), but just with saving a few headcounts...
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Old 25.09.2018, 09:25
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Re: Major layoffs at Novartis?

Quote:
Originally Posted by Fish Paste View Post
Novartis Business Services (NBS) - 700 going from Basel over 4 years.

Impacted to know by December.

2000 overall from Switzerland !

https://www.swissinfo.ch/eng/pharma_...-2020/44423572
It's a shame that the CHF remains so high v $/£/€. This is presumably one of the unfortunate consequences.
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Old 25.09.2018, 09:44
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Re: Major layoffs at Novartis?

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Originally Posted by fatmanfilms View Post
It's a shame that the CHF remains so high v $/£/€. This is presumably one of the unfortunate consequences.
There was the usual 'headwinds, margins, market forces' etc etc bandied about.

But also, strategically, the remote sites do lack management, it's 'all' in Basel, so this distribution of managers/leaders out to them makes sense.
These guys are quite expensive in CH for sure, probably each one costing a min of CHF 300k here.

Not that anyone from Basel will end up there of course. Expat deals are gone, no-one will go on local contract.

Where Novartis leads, others will follow....
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Old 25.09.2018, 10:13
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Re: Major layoffs at Novartis?

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Originally Posted by Samaire13 View Post
Same shit, different day, really.

They'll probably do what they've always done in the past from what I remember: rehire them all on external contracts.
what is the purpose of that? i mean contractors (afaik) cost way more than
fulltime employees, no?
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Old 25.09.2018, 10:19
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Re: Major layoffs at Novartis?

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what is the purpose of that? i mean contractors (afaik) cost way more than
fulltime employees, no?
No.

Contractors cost essentially what you pay them, per hour/day.

Employees cost what you pay them plus sick leave plus holidays plus pension contributions plus all the other social charges plus training plus permanent office space plus plus plus.
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Old 25.09.2018, 10:20
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Re: Major layoffs at Novartis?

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Originally Posted by flow23 View Post
what is the purpose of that? i mean contractors (afaik) cost way more than
fulltime employees, no?
Of course contractors are more expensive. But money's not the problem.

Lower headcount = profitability measures appear better. If you achieve a net income of let's say 10bn$ with 100'000 people, that looks much better than achieving the same with 120'000 people.

So they fake it all over the place. But that's in no way unique to Novartis.

It's always under the umbrella of "increased efficiency", but that's hardly ever what it's really about. That said, there are glaring inefficiencies at Novartis and elsewhere, and that products go and new ones come in, requiring different skills, is nothing new. Granted, a good organization realizes that well in advance and invests in their people to learn whatever new skills are required...
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Old 25.09.2018, 10:53
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Re: Major layoffs at Novartis?

So I read, they keep R&D here and may create a cell and gene therapy production site adding 450 people. No idea what that is by the way, produce genes?
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Old 25.09.2018, 11:02
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Re: Major layoffs at Novartis?

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Originally Posted by Tinkiwinki View Post
So I read, they keep R&D here and may create a cell and gene therapy production site adding 450 people. No idea what that is by the way, produce genes?
It's a form of therapy where a person's own cells are modified in some way to then fight certain diseases, particularly some cancers.

And that definitely has the potential to revolutionize the world of medicine. If done well.

Manufacturing is complex and comes at a massive cost as it's essentially individually tailored treatment. Needless to say that requires a whole different skill set than mass production of a standard pill.
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Old 25.09.2018, 11:03
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Re: Major layoffs at Novartis?

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So I read, they keep R&D here and may create a cell and gene therapy production site adding 450 people. No idea what that is by the way, produce genes?

Levi's or Diesel probably
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Old 25.09.2018, 11:09
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Re: Major layoffs at Novartis?

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Originally Posted by 22 yards View Post
No.

Contractors cost essentially what you pay them, per hour/day.

Employees cost what you pay them plus sick leave plus holidays plus pension contributions plus all the other social charges plus training plus permanent office space plus plus plus.
so the workplace, laptop, infrastructure etc for a contractor come for free?

it's mainly FTE vs non-FTE, especially in Switzerland where a contract can easily be terminated by the employer.
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Old 25.09.2018, 11:11
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Re: Major layoffs at Novartis?

Quote:
Originally Posted by Samaire13 View Post
Same shit, different day, really.

They'll probably do what they've always done in the past from what I remember: rehire them all on external contracts. After all, this has nothing to do with money, let alone profitability (lol), but just with saving a few headcounts...
It's easy. If the share price is too low, announce staff reductions. Share price goes up.

https://www.six-group.com/exchanges/...0012005267CHF4
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Old 25.09.2018, 11:21
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Re: Major layoffs at Novartis?

The lower the headcount the higher the bonuses. Haven't lowered any costs but looks good to the shareholders.
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Old 25.09.2018, 11:21
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Re: Major layoffs at Novartis?

Quote:
Originally Posted by Samaire13 View Post
It's a form of therapy where a person's own cells are modified in some way to then fight certain diseases, particularly some cancers.

And that definitely has the potential to revolutionize the world of medicine. If done well.

Manufacturing is complex and comes at a massive cost as it's essentially individually tailored treatment. Needless to say that requires a whole different skill set than mass production of a standard pill.
Thanks but that sounds a bit SF to me. The 450 people may be employed in R&D and not in production.
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Old 25.09.2018, 11:23
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Re: Major layoffs at Novartis?

Quote:
Originally Posted by Tinkiwinki View Post
Thanks but that sounds a bit SF to me. The 450 people may be employed in R&D and not in production.
It's already researched and developed for certain diseases, so yes, the 450 people will be employed in production.


Quote:
Originally Posted by NotAllThere
It's easy. If the share price is too low, announce staff reductions. Share price goes up.
Jup and that's the absurdity of it
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Old 25.09.2018, 12:00
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Re: Major layoffs at Novartis?

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Originally Posted by bowlie View Post
The lower the headcount the higher the bonuses. Haven't lowered any costs but looks good to the shareholders.
Shareholders don't care about the no of employee's, just total employment cost, so unless the reduction in staff produced higher profits they would ignore it completely.
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