What's going on at LIFE?

Synergies=Layoffs
coming B4 year end.

I heard around 15 field

I heard around 15 field service engineers were let go in the US, any truth in this?

Anyone working overtime and

Anyone working overtime and weekends thinking that their position will still be there at the end of the second Qtr?

Improving GL life condition

Improving GL life condition

That a big pay cut from last

That a big pay cut from last year when GL got over $29 million- This is nothing more that GREEED

Backwood dealing, WTF!

Backwood dealing, WTF!

Remember how back in 07 the

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

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

OMG, the deadwoods will be gone! Hurrah! Yippee!

Life Technologies Cuts Staff

Life Technologies Cuts Staff at Foster City
March 18, 2009
By a GenomeWeb staff reporter

* Type size: - +
* Email
* Print
* 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

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

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?

No FC layoffs until 2010? Right! The synergy goals promised to wall street point to a different scenario.

Not a "guy". Company is not

Not a "guy". Company is not doing anything to FC until 2010.

If there are no more layoffs

If there are no more layoffs planned as some are claiming here, why are the following two records part of the public database showing filings by Life Technologies under the California Worker Adjustment and Retraining Notification Act:

Layoff Company Name City Industry
Date
Sector Number of Employees Affected

1/9/2009 LIFE TECHNOLOGIES FOSTER CITY Health Care Biotechnology 75
7/30/2009 LIFE TECHNOLOGIES FOSTER CITY Health Care Biotechnology 40

Sure looks like, as of March 1 (last database update), Life is planning on letting 40 more go in Foster City.

Perhaps the "guy in the know" is just another company shill?

LIFE is expecting to improve

LIFE is expecting to improve the human condition, nothing more

"You're posting at 2:59 pm

"You're posting at 2:59 pm Carlsbad time. Either you've got GL size cajones posting from "a few doors down", or you're not at work today. Either ain't great if they are trying to track you down."

Anonymity is an impossible luxury on the internet.

You are right! They caught

You are right! They caught me. I was escorted out today! Not!

You're posting at 2:59 pm

You're posting at 2:59 pm Carlsbad time. Either you've got GL size cajones posting from "a few doors down", or you're not at work today. Either ain't great if they are trying to track you down.

There is no table outside of

There is no table outside of GL office. The exec admin sits to the right as you walk-in. There are a bunch of inspirational pics on the wall and the carpet really needs a little cleaning. Enough?

Obama said no more layoffs.?

Obama said no more layoffs.?

No. Not recently.

No. Not recently.

Was there another round of

Was there another round of layoffs at ABI recently?

Then his good buddy Mark will

Then his good buddy Mark will figure a way to gain from it politically......

Whether you like the guy or not, you know I'm right

Then Brett P. will take over

Then Brett P. will take over and tape people up like mummies.

Heard GL will resign next

Heard GL will resign next week to go back to GE

LOL!

LOL!

TW's head

TW's head

Really? What's on the table

Really? What's on the table outside GL's office?

"Your words are marked, in

"Your words are marked, in fact they are tainted. Setting-up a fall so that you can anonymously crow later when there are lay offs? It is a dumb or malicious statement to say no more lay offs. Amongst many things 'synergy' means duplication of jobs, so someone position has to go. Life, Agilent, Illumina, GE Healthcare, and others will unfortunately have to let more jobs go before the year is out. Sad but true."

I am only a few doors down from GL office in Carlsbad, CA. The walls are very thin here. I am not a business person, but I trust my eyes and ears. I am only telling what I hear. I don't think that is "dumb" or "malicious". You should ignore the msg if it bothers you. No need for attack.

"Ok, I get it now. There

"Ok, I get it now. There weren't many heritage AB manufacturing sites anyway. There's nowhere in the new company that duplicates what Bedford does, so they are probably good. Austin has a big in take of new products. Pleasanton has built great expertise in make to order assays which isn't easily transferable (try moving a make to order business without making it obvious). Warrington are the kings of forensic products which would be high risk to move. Singapore is the only in house instrument manufacturer and is contractually tied to the country."

Can someone summarizes where are all the domestic sites for legacy AB and what products are made at those plants? I heard Bedford is being consolidated on another Board.!

GL promised "Life

GL promised "Life Technologies will improve the human condition." This may eventually happen over some period of time. However, the period of time is questionable and so is the improvement of your human condition as an employee of LT.

No more layoffs. I hate to

No more layoffs. I hate to repeat myself, but the layoffs are done. Just go to work and contribute to your respective group. Mark my words. No more layoffs.
ROTFL! Technically you are right: we're only ditching entire businesses, like LIMS for example. It's an open secret that's sold to (former) competitors.
We finally managed to kill the useless 4-lettered beast!
Bye bye guys, we never really understood you but that's your problem not ours.

"Didn't make myself clear. I

"Didn't make myself clear. I meant before the merger, I thought those units would be at risk. They seem to be doing well so the question remains - are any heritage AB units at risk?".

Ok, I get it now. There weren't many heritage AB manufacturing sites anyway. There's nowhere in the new company that duplicates what Bedford does, so they are probably good. Austin has a big in take of new products. Pleasanton has built great expertise in make to order assays which isn't easily transferable (try moving a make to order business without making it obvious). Warrington are the kings of forensic products which would be high risk to move. Singapore is the only in house instrument manufacturer and is contractually tied to the country.

Your words are marked, in

Your words are marked, in fact they are tainted. Setting-up a fall so that you can anonymously crow later when there are lay offs? It is a dumb or malicious statement to say no more lay offs. Amongst many things 'synergy' means duplication of jobs, so someone position has to go. Life, Agilent, Illumina, GE Healthcare, and others will unfortunately have to let more jobs go before the year is out. Sad but true.

No more layoffs. I hate to

No more layoffs. I hate to repeat myself, but the layoffs are done. Just go to work and contribute to your respective group. Mark my words. No more layoffs.

"AND WHAT WILL A UNION DO FOR

"AND WHAT WILL A UNION DO FOR YOU? DROP YOUR WAGES AND TAKE MONEY MONTHLY? SERIOUSLY!"

Union fights for the workers. Contract is a good thing, not to mention benefits and you can not be cross-trained, no "matrix" reporting nor abuse by your manager without getting some sort of grievance. That is what wrong with the Biotech companies. Let's unionized and fight for our brothers and sisters. How about we start with GI in New York!

Only the AB "people units"

Only the AB "people units" are at risk. Beware the Ides of March! 90 days after December 12 the WARN clock starts all over again.

Which would fly in the face

Which would fly in the face of the big movement of product out of Foster City to Bedford and Austin. Do your research.

Didn't make myself clear. I meant before the merger, I thought those units would be at risk. They seem to be doing well so the question remains - are any heritage AB units at risk?

You definitely want to work

You definitely want to work for ILMN. Gary the porn king is there. He's best friends with Christy Canyon and is into all sorts of debauchery and raucous humor. The guy is a hoot when he's not telling you he's God. He got tired of Cynthia and her horses.

Both Life and Illumina are

Both Life and Illumina are hiring big style. It just that jobs are moving, for example, Illumina has let go in the US and hired more than 100 in Singapore and England.

AND WHAT WILL A UNION DO FOR

AND WHAT WILL A UNION DO FOR YOU? DROP YOUR WAGES AND TAKE MONEY MONTHLY? SERIOUSLY!

Which would fly in the face

Which would fly in the face of the big movement of product out of Foster City to Bedford and Austin. Do your research.

Which units come to your

Which units come to your mind? I would have bet money on Pleasanton and Austin and Bedford all falling.

In vitro Diag, oligo What

In vitro Diag, oligo
What about AB units? At least two potential targets come to mind...

While the Company still has

While the Company still has to find its way, more and more colleagues find their own even before getting laid off: ILMN is hiring big style

Let's us form a union to

Let's us form a union to protect our jobs. We can start in Carlsbad and then onto Foster City, Camarillo, Eugene, Portland, Grand Island, Norwalk, Rockville, Frederick, Austin...etc...
I love union. Let's do it.

Austin will close and

Austin will close and consolidate with Muldova. They will start a program highlighting borscht and roller girls with Muffin Tumble as the CEO.

wrong, no more layoffs. AB

    wrong, no more layoffs. AB will dominate IVGN management. We are the best. We have the best people, best facilities and we can only improve IVGN books and work efficiency. Greg should be proud to get our help.

It is good to have a positive attitude. You will need it for your next job search.

wrong, no more layoffs. AB

wrong, no more layoffs. AB will dominate IVGN management. We are the best. We have the best people, best facilities and we can only improve IVGN books and work efficiency. Greg should be proud to get our help.

Don't worry. Sooner or later (bet on sooner) a crappy quarter will roll in. It won't be GL's fault. And he won't be able to find anyone in his IVGN executive team that will take responsibility. There will, however, be some newly acquired scapegoats to point fingers at.

In vitro Diag, oligo

In vitro Diag, oligo

Post new comment

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.