So, the new bloodbath of layoffs has begun at Pfizer
Frank the Tank D'Amelio is taking apart IT with with a sledgehammer this time. Currently, it is that 40-45% of ALL BTI (IT) staff will be cut. They can't keep up with their service levels now and he doesn't care. He knows this and is setting the stage for more.
His brilliant plan to outsource and offshore. But the ducks aren't lined up yet for that. Let the IT consultants (Accenture, HP, IBM) come knocking. Screw service, just cut costs, they need money for short term stock dividends and to give upper management an increase (like CEO Ian's 44% compensation increase).
Word is that this is just the beginning. That more cuts will happen and by the end of the year severance will be cut to a kick in the pants as you leave.
No company can function like this.
I'm putting my money into Mereck.
There's only one idiot on this board - Avanipsgold.
Not only am I not an idiot but I'm actually an options genius who has made the options discovery of the ages.
Ruff is a dogged ratings vigilante who is extremely committed to her job of preventing inflated ratings and inflated egos.
My condolences. I was part of a superlative IT group at Aon in Manhattan (built the network after 9/11/01) and was outsourced OUT in December of 2005. Outsourcing to India is a fools game but it costs those salary expenses and without bennies too. Pfizer is going to hell, I met the IT people at the Pearl River plant some time ago and they were scared even then.
I'm the source, as I work at one of their major research sites. I expect to see the cuts spillover into my area soon. The cuts are deep even into the legacy Wyeth people whom ran the show here. Still, I am completely Shocked.
This isn't completely unexpected. Look at CFO Frank D'Amelio's history; he was a hatchet man at Lucent, he was hired to do the same.
Here is what we internal suspect. They are carving up groups and people to make the company be in a state to break it up and sell it off piecemeal. That is what he did at Lucent, prepare and cook the books through cuts in order to attract Alcatel into buying it.
There isn't much question of his motives when you see his past history. This is probably why CFO D'Amelio insisted that the CIO be a subordinate position to him.
My advice, get your money out of here and to some place safer. With these cuts, they won't be able to support the dividend too much longer... and you won't have one after they break up and sell off.