Thread regarding Thermo Fisher Scientific Inc. layoffs

Will there be more layoffs?

Does anyone know if more layoffs are coming? Especially after the Q3 earning call.

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| 1479 views | | 6 replies (last November 9)
Post ID: @OP+1pinLDIU

6 replies (most recent on top)

Which department? (Replying to last comment)

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Post ID: @dnmh+1pinLDIU

I’m on the PPD side, there’s quite a few project delivery roles, especially in data management NA, that have availability. Allocated to new studies that don’t start and then the budgets are too tight to put them on other roles until APAC/LATAM resources run out and they’ll take the NA for short term until they can get on lower cost resource.

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Post ID: @3qte+1pinLDIU

Margin rate was up but probably not where the exec team/investors would want it (which is absolutely insane because 24% is MASSIVE).

Exec team anticipates a lot of headwinds next year.

So my guess is that probably layoffs will be slow for Q4 '23 and Q1 '24 while they wait to see how the economy looks but pick back up again after :-/

Pathological pursuit of margin. So much talent flushed down the toilet rather than re-assigned even though TFS is hugely profitable already

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Post ID: @3hqd+1pinLDIU

Who on the PPD side is sitting around with no work? Utilization is at an all time high in Project Delivery, and we struggle to resource projects.

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Post ID: @2vwu+1pinLDIU

As pharmaceutical companies do layoffs it’ll affect TFS too as business will reduce. There will continue to be layoffs well throughout next year that I doubt we’ll hear about unless it’s at a plant.
I work on the PPD side and business has drastically slowed down, yes some people are probably slammed but there are quite a few people with no work.

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Post ID: @1upt+1pinLDIU

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