Comments on: Bristol-Myers Will Cut Even More Jobs http://www.pharmalot.com/2008/07/bristol-myers-will-cut-even-more-jobs/ News, Comment and Conversation Fri, 10 Feb 2012 17:52:51 +0000 http://wordpress.org/?v=2.6.2 By: CMC guy http://www.pharmalot.com/2008/07/bristol-myers-will-cut-even-more-jobs/#comment-367685 CMC guy Thu, 24 Jul 2008 22:20:55 +0000 http://www.pharmalot.com/?p=14799#comment-367685 Based on Old Friends numbers simply Calc. $1B*1/3*1/5000 = Save $66.7K per employee CEO 2007 Compensation $11.3M (Base/Bonus/Inventive/Stock) then plus any additional perks? SO if BMS axe CEO and a few other execs wouldn't they save more? Based on Old Friends numbers simply Calc. $1B*1/3*1/5000 = Save $66.7K per employee

CEO 2007 Compensation $11.3M (Base/Bonus/Inventive/Stock) then plus any additional perks?

SO if BMS axe CEO and a few other execs wouldn’t they save more?

]]> By: Old Friend http://www.pharmalot.com/2008/07/bristol-myers-will-cut-even-more-jobs/#comment-367682 Old Friend Thu, 24 Jul 2008 21:29:02 +0000 http://www.pharmalot.com/?p=14799#comment-367682 I have heard from a reliable source that a third of the additional $ 1 billion in savings will come from headcount. That is another 5,000 employees on top of the already mentioned 4,300. The new headcount target for BMS post divestiture of Convatec and spin-off of Mead Johson is 29,000. Most cut will come form the US and Europe. This will happen within the next year or so...BMS needs cash if it is to pay its dividend. I have heard from a reliable source that a third of the additional $ 1 billion in savings will come from headcount. That is another 5,000 employees on top of the already mentioned 4,300. The new headcount target for BMS post divestiture of Convatec and spin-off of Mead Johson is 29,000. Most cut will come form the US and Europe. This will happen within the next year or so…BMS needs cash if it is to pay its dividend.

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