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Thats THREE outsourcing deals signed and are slowly being phased in with layoffs. The IT divisions are being gutted and most of these are in NJ (Hopewell/Plainsboro)
When a job is outsourced it is gone and never coming back unlike a layoff.
The sad thing about BMS is they are going to take a HUGE hit in 2011-2012 when their patents expire and competitors can start to make generic brands of their drugs. The company will be ruined or bought out by then.
Sales forces are being slammed well and outsourced meaning they are gone forever once let go
NJ is doomed as teleco is dead, pharma is dead, manufacturing is dead, state jobs are frozen until a new source of tax revenue can be found, finance is in ruins, teaching jobs are locked down. The only thing left is the medical and law fields or become a cop but that is even hard as most cities and counties are broke with -0 budgets. Drug dealer maybe?
The problem with LAW or Medical field is you need a degree which can take 3-6 years to complete which is hard to do if you are married with kids and own a home and have bills to pay. Thats why its going to take a new generation of kids going to college and graduating to maybe fix it but then who knows those fields will be flooded/exploited and dead by then too.
When a job is outsourced it is gone and never coming back unlike a layoff.
The sad thing about BMS is they are going to take a HUGE hit in 2011-2012 when their patents expire and competitors can start to make generic brands of their drugs. The company will be ruined or bought out by then.
Sales forces are being slammed well and outsourced meaning they are gone forever once let go
NJ is doomed as teleco is dead, pharma is dead, manufacturing is dead, state jobs are frozen until a new source of tax revenue can be found, finance is in ruins, teaching jobs are locked down. The only thing left is the medical and law fields or become a cop but that is even hard as most cities and counties are broke with -0 budgets. Drug dealer maybe?
.
I can really only speak for myself here- Almost 15 yrs in the manufacturing business-(cable/wire)- the German owned company forced to save 1 million in salaries and benifits layed off 20% of the workforce. As a production mang. fairly up the pay scale ladder- I fell into the 20%. My position is now being done by somone in Korea. Sure outsoursing has hurt the whole country, but I believe NJ-and maybe parts of the midwest got hit the hardest. Im not a kid anymore so finding something simililar ,with a simililar salary is not an easy task.
Some companies have stayed in the states,but due to salary concerns and the commerical costs of buildings ..etc.. have moved to the southern part of this country-
After 6 months of severance and now unemployment- Ive come to face the reality that if I want to stay in NJ (Im 53) much longer, I need to accept much less or find a different field(and accept less)- Its a damn shame ,but thats the way it is.- -I know thier are many people like myself in the same boat- and we understand that these positions are never coming back- it makes me mad,sad,& resentful. Loyality has nothing to do with your job anymore -its all the bottom line. Its probably always been like that- but when the bottom like is good- its all good.- Will I be able to live and retire in NJ??- Well, certainly not like I thought I could- with 401K-that took a nice hit, and needing some of our savings during this strech its not going to be as easy as once thought. I like this state -lived in a few others- but always returned. I dont know what the future holds, but I do know that if me and my wife (who has a very good job-$) didnt live upstairs from my 75 yr old mother- we would have a hard time living in NJ with all the amenities that we have now. Sure we pay a nice rent- but not even close to a "normal" 2 bedroom in the Caldwells*
I said a lot more than I intended too- thanks for the venting space * *
U.S. unemployment stays at 10 percent in December as employers shed 85,000 job
Even the seasonal jobs around christmas failed to make a dent. More tax revenue is going to be lost and forget what Christie says. Taxes WILL go up, he has no choice and he is stuck like Arnold the governator of CA.
Thats THREE outsourcing deals signed and are slowly being phased in with layoffs. The IT divisions are being gutted and most of these are in NJ (Hopewell/Plainsboro)
When a job is outsourced it is gone and never coming back unlike a layoff.
The sad thing about BMS is they are going to take a HUGE hit in 2011-2012 when their patents expire and competitors can start to make generic brands of their drugs. The company will be ruined or bought out by then.
Sales forces are being slammed well and outsourced meaning they are gone forever once let go
NJ is doomed as teleco is dead, pharma is dead, manufacturing is dead, state jobs are frozen until a new source of tax revenue can be found, finance is in ruins, teaching jobs are locked down. The only thing left is the medical and law fields or become a cop but that is even hard as most cities and counties are broke with -0 budgets. Drug dealer maybe?
The problem with LAW or Medical field is you need a degree which can take 3-6 years to complete which is hard to do if you are married with kids and own a home and have bills to pay. Thats why its going to take a new generation of kids going to college and graduating to maybe fix it but then who knows those fields will be flooded/exploited and dead by then too.
Enough with the "It will all work out" attitude, its ruined as things are only OK now due to borrowed money we are using right now that will never be paid back unless more taxes are implemented.
Even Roche is leaving: "Roche has 3,000 employees in research, sales and manufacturing in Nutley, 15 miles west of New York City. Darien Wilson, a Roche spokeswoman, said it plans to cease manufacturing operations there by the end of 2010."
"Merck announced companywide plans in October to cut 7,200 jobs by 2011. Schering-Plough said in September that it plans to cut 1,000 sales jobs, 20 percent of its U.S. sales force."
Block-
Those are some frighting links you put up- gives me the blues *
What to do?? What to do??
Those are some big numbers- -and if the unemployment number is 10% -you can bet its really about 16-17% counting people would never filed, who ran out of funds, who stopped looking, etc...etc...- I dont know about doomed, but we are certainly getting close to needing that 3run homer in the bottom of the 9th-
bestregards
Enough with the "It will all work out" attitude, its ruined as things are only OK now due to borrowed money we are using right now that will never be paid back unless more taxes are implemented.
Even Roche is leaving: "Roche has 3,000 employees in research, sales and manufacturing in Nutley, 15 miles west of New York City. Darien Wilson, a Roche spokeswoman, said it plans to cease manufacturing operations there by the end of 2010."
"Merck announced companywide plans in October to cut 7,200 jobs by 2011. Schering-Plough said in September that it plans to cut 1,000 sales jobs, 20 percent of its U.S. sales force."
They are now merged...one & the same. That 7200 figure is global
They are now merged...one & the same. That 7200 figure is global
and will be completed in 2011 so the cuts are STILL coming. Guess where most the IT staff for merck are...
"Call it the proverbial one-two punch. On Jan. 31, Pfizer expects to chop 400 jobs from Monmouth Junction, NJ, where Wyeth maintained research offices. And on Feb. 9, Merck will eliminate 500 jobs attached to Kenilworth, NJ, where Schering-Plough had its headquarters, although it’s not clear which types of jobs will be affected [UPDATE: We hear Schering-Plough sales reps are among those targeted and may already be alerted]."
and will be completed in 2011 so the cuts are STILL coming. Guess where most the IT staff for merck are...
"Call it the proverbial one-two punch. On Jan. 31, Pfizer expects to chop 400 jobs from Monmouth Junction, NJ, where Wyeth maintained research offices. And on Feb. 9, Merck will eliminate 500 jobs attached to Kenilworth, NJ, where Schering-Plough had its headquarters, although it’s not clear which types of jobs will be affected [UPDATE: We hear Schering-Plough sales reps are among those targeted and may already be alerted]."
So what strong industry is left in NJ to overtax and exploit? Lawyers? Doctors?
NJ == doomed.
Merck is a global company, all over the world. the cuts are global. Sure the US will see some of the cuts as well but what do you expect when two pharma companies, one of them global merge ( nor sure if Schering was global or not). There will be a duplication of services.
Does not indicate NJ is doomed.
Merck is a global company, all over the world. the cuts are global. Sure the US will see some of the cuts as well but what do you expect when two pharma companies, one of them global merge ( nor sure if Schering was global or not). There will be a duplication of services.
Does not indicate NJ is doomed.
"Just the same, the job losses underscore the blow to the nation’s medicine chest, the nickname New Jersey has long used to boast about the large number of big drugmakers with big operations headquartered in its borders - until recently"
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hangingINthere
- thanks for the venting space * *
