AUGUST 13, 2022 — MAJOR FACILITY CLOSURES AND LAYOFFS AHEAD
In a major announcement, “The company expects to optimize its commercial capabilities and enabling functions, and close, downsize or divest up to 15 manufacturing facilities globally that are deemed to be no longer viable either due to surplus capacity, challenging market dynamics or a shift in its product portfolio toward more complex products.”
“As a result, Viatris expects that up to 20% of its global workforce of approximately 45,000 may be impacted upon completion of the restructuring initiative. The company will maintain an extensive overall employee base and global manufacturing network that aligns with its go-forward operations.”
Viatris CEO Michael Goettler said, "Viatris has a tremendous opportunity to impact healthcare in a sustainable way through a focus on access and empowering patients worldwide to live healthier at every stage of life. The actions we are announcing today are consistent with our commitment to optimally design our new company to operate efficiently. This initiative is part of Viatris' roadmap to ensure we can maximize long-term value creation for shareholders and for all stakeholders, including the patients and customers we serve."
Viatris president Rajiv Malik said, "After more than a decade of building a robust global platform, today we are taking the natural next step as we shape a new company that we believe can meet the needs of patients and customers in this evolving healthcare landscape. As we do so, we are intently focused on ensuring supply continuity within the markets we serve, which includes continuing our ongoing engagement with health authorities and customers to ensure patients' needs are met."
JUNE 3, 2021 — PLANT SHUTDOWN IN MORGANTOWN, WEST VIRGINIA WITH MASS LAYOFFS
The company has announced that it will be shutting down its Chestnut Ridge oral-dose manufacturing facility in Morgantown, West Virginia commencing on July 31, 2021. The shutdown will impact 1,431 employees including 764 union workers and 482 non-union workers. Some employees will remain employed for winddown activities until March 2022.
The closure is part of a $1 billion cost-cutting program previously announced.
“According to a company statement, Viatris intends to close down manufacturing operations at this facility by mid-2021. However, there will be no immediate employee reductions at the site. It is anticipated that the majority of production will continue for the next seven months, ending no later than July 31, 2021, and that the majority of employees impacted will remain employed until that time when they will be offered comprehensive separation packages.”
“Following the closure, Viatris will still maintain a significant workforce in Morgantown, including at its Research and Development Center, one of the company’s two global centers of excellence for R&D. This Center is focused on delivering world-class scientific innovation, technology, and research. The team at this facility has played a critical role in some of the company’s most important scientific achievements and will continue to do so as Viatris expands its pipeline of complex medicines. Certain other key business and administrative support functions will also continue to operate within Morgantown.”
DECEMBER 24, 2020 — Orignal post…
Canonsburg, Pennsylvania-based Viatris, a new pharmaceutical company formed from the integration of Mylan N.V. and Pfizer Inc.'s Upjohn business, has announced further details on its global multi-year restructuring initiative that will impact an estimated 20% of the combined company's workforce as it integrates companies and removes redundant positions and inefficiencies in the management and production operations. The company claims that it may need to either close, downsize or divest up to 15 facilities to achieve planned cost synergies. Approximately 9,000 employees may be targeted company-wide.
One of the companies immediate targets is located in Morgantown, West Virginia where layoffs are underway.
According to Viatris CEO Michael Goettler, "Viatris has a tremendous opportunity to impact healthcare in a sustainable way through a focus on access and empowering patients worldwide to live healthier at every stage of life. The actions we are announcing today are consistent with our commitment to optimally design our new company to operate efficiently. This initiative is part of Viatris' roadmap to ensure we can maximize long-term value creation for shareholders and for all stakeholders, including the patients and customers we serve."
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?
