From what I can tell, Novo Nordisk (9,000 employees), Merck (~6,000 employees), Bayer, BMS, Novartis, and Pfizer have all announced major layoffs. Should we anticipate a similar announcement from Illumina soon, or is it more likely in Q4?
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@290 It’s ‘to spite one’s face’, not ‘despite’.
And, news flash, id--ts have been running this country (and state and locality) for quite a long time now.
@b4 agreed . doing so would be cutting off one’s nose despite one’s face. we are already stretched to the limit. But hey since when has that stopped stupid decisions? Yet it could and quite honestly likely will happen at some point considering the abject and dangerous idiocracy now running the country.
@r7 when people say this, do they mean literal gold? or like stocks and ETFs that are based on the rare minerals?
I kind of feel like we front ran the layoffs the last two years. Doesn't mean more could happen if it gets really bad.
I second on precious metals.
no layoffs coming for now , confirmed by ELT.
But I highly recommend buying Gold and GDX to weather the coming great depression and sovereign debt crisis.
Now imagine trying to sell into these companies. They are some of our biggest customers. We won’t layoff to follow the trend per se but we will have to layoff when our revenues are hammered because of reduced spending of our pharma customers.
I advise very young people to choose wisely where and to which parents they get born.
ELT does not want to do major layoffs anytime in the near future. It would be a last resort. Could there be small pockets of minor layoffs at a department level? Sure. That is normal. Could the market outlook get measurably worse and force that last resort? Sure. That is also normal. Believe or don't believe, does not matter to me. Simply passing along the information that I know to be truth in the hope of easing your rightfully nervous minds.
I advise being born rich.
More panic please...
I advise junior people to avoid pursuing life science 😀
It’s very challenging time for life sciences industry.