coming B4 year end.
"With regards to manufacturing, previous poster is right-- for many AB products there is no redundancy with Invitrogen and some AB sites will remain intact."
Life owns all AB's brands, IP, licensing and products. There is no redundancy because it is one company. The products and resources will be allocated to maximize $$$. Consolidation, Real Estate sales, relocation and outsourcing are part of the equation. Face it, AB does not exist as a company anymore. Nothing is off the chopping block.
What about tech reps - will they consoliate or will they be kept when there isn't overlap. Do all these layoffs have any impact on the discrimination stuff below?
Listen, we've got to expect that departments like HR, legal, shipping & receiving, sales, service, and all other sorts of administrative departments are going to be consolidated. To the victor go the spoils, and Invitrogen bought AB, so that's where they'll go.
With regards to manufacturing, previous poster is right-- for many AB products there is no redundancy with Invitrogen and some AB sites will remain intact.
And what makes you think that? Most of the ABI sites make products that cannot easily be transferred into heritage Invitrogen.
>What about Pleasanton and other AB sites?
All AB Real Estate will be for sale as soon as they become vacant and is already been counted into the synergy savings.
What about Pleasanton and other AB sites?
FC will close within 18 months. Duties performed their will either be relocated to Carlsbad (engineering, enzymology, etc.) or Eugene (chemistry). If you're any good, LIFE will relocate you with you job intact; if you're not, buff-up that resume. If your in a "non-scientific" position, you will be replaced in Carlsbad or offered your job without relocation benefits.
you re obviously blind to what's going on in FC...Go talk to the sales people, the service engineers as well as order and sales support. They all already got their pink slip.
order and sale support functions were hard hit ... about 70 foster city jobs being cut, moving to elsewhere. Read between the lines... only a matter of time before all FC is shut down.
Nice to see that Lucifer has been busy there since I left a few years back. More public lawsuits as opposed to the closed door payoffs of the past.
"See that MS and his team are moving to Carlsbad? That must spell the end of Foster City?"
Foster City will be there but it will have very little LIFE.
"Did anybody see the Rumor Mill post on lawsuit against AB ? The attorneys who posted were a legitimate Austin firm. So is this an Austin harassment/discrimination thing or what's going on ? I've heard a few stories but seems like every company has a few stories along this line" What's the story?
The law office of Bemis, Roach & Reed is investigating prevalence of discrimination at Applied Biosystems/Life Technologies. If you are a past employee of AB/Life and feel you experienced discrimination while working for them or in being laid off, please send or fax the following information to the law office listed below. ALL information is completely confidential.
Your name and contact information (name is required)
Dates started and left AB or Life Technologies
Title and years industry experience
Type(s) of Discrimination (list all relevant categories):
Race, color, sex, national origin, retaliation, age, disability, other
Describe other actions:
Reason given for acts:
Do you know others who have been treated similarly?
How long you have been out of work or it took to find another job – even if you started looking before leaving AB/Life and left voluntarily.
Send your name and information to:
Bemis, Roach & Reed
4100 Duval Road Bldg 1, Suite 200
Austin, TX 78759
All information is totally confidential. Feel free to pass this on or post to other appropriate sites.
See that MS and his team are moving to Carlsbad? That must spell the end of Foster City?
maybe it is about time?
Did anybody see the Rumor Mill post on lawsuit against AB ? The attorneys who posted were a legitimate Austin firm. So is this an Austin harassment/discrimination thing or what's going on ? I've heard a few stories but seems like every company has a few stories along this line.
er ... none?
"GL came. We are on the "map", (hello!!), more ops to Frederick"
If Frederick is safe which other sites will be closing ?
How many went from Foster City last week ?
PL, is this the Rumor Mill or the Prophecy Mill?
Confucius say: Smaller fish take more time than expected to swallow much larger fish.
The devil said to bring lost souls to Fred by way of its logs. More souls will be gone when the Os are to be casted out. The Underworld Hound and the Underworld King are working to these goals.
I have heard everyone at Life is working under a microscope now. Must account for every hour, dot the I,s cross the T,s, all the rest of the job that needs to be done but cannot be actually accounted for now has to get done outside of core hours.
You heard wrong - it's pretty much business as usual in most areas.
Now get back to work!
Looks like F-burg, MD will be around for another year.
GL came. We are on the "map", (hello!!), more ops to Frederick
GL is a deep dive, hands-on kind of guy. He likes to spend two days a month doing the job of someone 5 levels removed from himself. So he's probably going to be labeling tubes.
Heard GLfer is in MD tomorrow, can anyone confirm this? and why?
"True. Only reason for overtime is to build inventory and then transfer to Carlsbad and Austin"
"You are nearly four months behind the times."
No I am 6 months ahead wait for end Q3 and see
It may have something to do with this.
>>Anyone working overtime and weekends thinking that their position will still be there at the end of the second Qtr?
"Yes, and 3 months until 2nd Qtr end!"
And your point is?
"True. Only reason for overtime is to build inventory and then transfer to Carlsbad and Austin
You are nearly four months behind the times.
Yes, and 3 months until 2nd Qtr end!
"?????????? GE bought Life. Do explain. Did I miss something?"
It's a reference to the number of ex-GE management now at Life
Anyone working overtime and weekends thinking that their position will still be there at the end of the second Qtr?
True. Only reason for overtime is to build inventory and then transfer to Carlsbad and Austin
?????????? GE bought Life. Do explain. Did I miss something?
Non-sense, GE already bought Life Technologies.
I know of one sales rep laid off today.
Just a passing whisper but did I hear someone is out to buy Life Technologies? If so who, they must have some clout!
I heard around 15 field service engineers were let go in the US, any truth in this?
Improving GL life condition
That a big pay cut from last year when GL got over $29 million- This is nothing more that GREEED
Backwood dealing, WTF!
Remember how back in 07 the board voted to give GL 400,000 shares (now 800,000 after split) as his ONLY INCENTIVE BONUS until Feb. 2010? Vesting to be dependent on him getting the stock price to $105 (now $52.50 after split) Whatever happened to that agreement? He hasn't reached the target price yet.
Life Technologies CEO gets $11.2 million in 2008
Life Technologies CEO Gregory Lucier received $11.2 million in 2008, mostly before buyout
CARLSBAD, Calif. (AP) -- Life Technologies Corp. Chairman and Chief Executive Gregory Lucier received $11.2 million worth of compensation in 2008, most of it with the company's predecessor Invitrogen Corp.
Invitrogen bought Applied Sciences for $6.4 billion in a cash and stock deal that closed Nov. 21 and the company changed its name to Life Technologies. Lucier had been Invitrogen's CEO.
In 2008, he received $978,404 in base salary, just under $2.1 million in a performance-related bonus and $64,244 in perks. Those included compensation for financial planning services, retirement and health insurance.
The bulk of his compensation came from stock and option awards valued at $8.1 million by the company on the day they were granted. Most of the options were granted Nov. 21 at $22.23 per share when Life Technologies was formed.
OMG, the deadwoods will be gone! Hurrah! Yippee!
Life Technologies Cuts Staff at Foster City
March 18, 2009
By a GenomeWeb staff reporter
* Type size: - +
* RSS Feed
NEW YORK (GenomeWeb News) – Life Technologies has cut 75 positions at Applied Biosystems' facilities in Foster City, Calif., and will cut a further 40 employees in the summer, according to a notice posted on the website of California's Employment Development Department.
The first group of cuts occurred in January, according to the website. Such job cuts are not unexpected in the wake of the roughly $5 billion merger of Invitrogen and ABI to form Life Technologies. Invitrogen said in October that it expects $80 million in synergies, mostly from cost savings, in the first year after closing the deal.
"The company stated that part of those synergies would be achieved through corporate overhead reductions, which unfortunately does include the elimination of redundant positions between the two legacy companies," the firm said in a statement e-mailed today to GenomeWeb Daily News. "Life Technologies cannot confirm the number or timing of those workforce reductions," it added.
The firm has already closed ABI's corporate offices in Norwalk, Conn., as part of efforts to eliminate redundant operations.
Life Technologies currently employs around 9,500 people worldwide.
In a research note to investors today, Leerink Swann analyst Isaac Ro said he believes Life Technologies' goal of reducing annual costs by $80 million by the end of 2009 is conservative. He noted that an initial $50 million in reductions thus far was achieved through "improved purchasing processes and headcount reductions."
Ro, who currently has an "outperform" rating on Life Technologies' stock, believes the firm will be a primary beneficiary among the life science tool providers of increased NIH funding. He noted that Life Technologies' management "has identified 20 percent of total sales as directly exposed to NIH funds, but we note that over 50 percent of sales are driven by academic/government labs."
LIFE execs are poster children for what is wrong with MBA education programs today.
Boy, di you nailed it with that comment. GL's biggest talent is lining his pockets and the pockets of the BOD. Screw the common shareholder and employees.
Life Technologies Named to FTSE4Good Index Series
Companies in the FTSE4Good Index Series have met stringent social, ethical and environmental criteria.
Ethical criteria??? LIFE execs are poster children for what is wrong with MBA education programs today. Focus on the short term, retention bonuses for not quitting your job when things get tough, etc.
No FC layoffs until 2010? Right! The synergy goals promised to wall street point to a different scenario.
More information about formatting options