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February 4, 2010
BMS Freezes Salaries
The hits just keep on coming. Bristol-Myers Squibb told its employees yesterday that there will be no pay increases this year, and from what I'm hearing, this took a lot of people completely by surprise. As late as last week, there was apparently still discussion of what the salary increases would be for various performance ratings and that sort of thing, but no more.
This sort of thing may or may not be a sign of imminent bad news, but it's never a sign of good news. We'll see what happens as the company continues to deal with the oncoming Plavix patent expiration and other issues. . .
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