Turns out that lots of the cutting was to free up 4 billion in cash. Let's hope your job was worth something more than another bungled acquisition like Bard.
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Tom should just get rid of R&D and save a bunch of millions right there. BD no longer grows through Research & Development; it is not like we are developing new technology. Our R&D Engineers can't even manage a project! BD's growth is exclusively through acquisitions now. So, let's get rid of R&D and just keep acquiring smaller companies instead. We can use the acquired companies' R&D until we no longer have use for them.
Edwards lost people and BD told their people they want 3 times the work performed but no mention of compensation. Yet they paid $1B cash and financed the rest to buy Edwards. Seems we all got the shaft - as usual
Sounds like whoever is in charge of financial should be walked out along with any high up directors that and anything to do with this.
Nope, only 1 billion cash with 3.2 billion in new debt!