Turnaround struggles included awkwardly executed layoffs, strategic floundering, a failed deal to buy Quaker Oats to get Gatorade, and the use of a feng shui expert to bring better luck to headquarters.
The New York City-based pharmaceutical company wouldn't confirm or deny reports that it will be trimming its sales force by almost a third, but several reports have suggested the company will be executing further layoffs.
"The latest proposals simply ask for more than we think we can afford, especially at a time when we're facing severe funding shortfalls from the state, and executing various operational cuts, layoffs, and furloughs".
After over-hiring for positions that were unnecessary since the app hadn't launched, Duplan is said to have suddenly executed rounds of layoffs, firing up to a quarter of the staff.
They had to execute multiple rounds of layoffs and multiple fire sales.
Whether that was the layoff or whatever, we have to do a better job executing, too".
The earliest the layoffs would be executed would be at the end of April, toward the end of the semester, officials said.
Demand for paper products appears to have permanently diminished, and after the layoffs, which are to be executed from December throughout spring 2010, the company will have 13% less total paper-making capacity.
Of course, this report is anecdotal, but that fact that it is coming from a Yahoo employee (vs. an anonymous tip) does suggest that layoffs may have already started and are gradually being executed at the company.
Coburn says the team executed well on its plan to transition away from smaller customers, which is why this new round of layoffs is bittersweet.
