Amneal Announces Actions to Streamline Operations and Capture Cost Synergies. The Company will immediately implement plans to phase out the Hayward facilities. Amneal expects the facility closures to reduce its workforce by approximately 550 positions.
https://www.prnewswire.com/news-releases/amneal-announces-actions-to-streamline-operations-and-capture-cost-synergies-300646915.html
Layoffs in India too. This was only the beginning. Rob Stewart is a liar.
This thing will only affect American employees, H1 are safe...
They laid off 50 employees yesterday. Some very talented individuals worked for more than 10 years for the company . Sad day
Robert Stewart is a big liar.
During investor's call he shared all positive news. He said Targeting synergies of $30 to $35 million
‒ 50% R&D, 30% SG&A, 20% Manufacturing.
Now he is saying totally different. Laying of 550 people itself would save north of 30 million dollars for them. Selling real estates and saving other administrative expenses would get their synergies more than 50 million USD. I am not sure what has happened between 7th May and 11th May. but Surely they are big liars and hiding lot of facts.
This company's biggest strength was a trust. Chirag and Chintu were running this company as a family. But as it is public now and under the management of liars and greedy people, employees will not have the same trust and attitude. shame on you chirag and chintu for selling this company in hands of greedy management and investors.