Will there be layoffs or reductions as a result of this transaction?
We are focused foremost on growth and the most important value drivers are accelerating revenue and enhancing the combined product portfolio and pipeline. Having said that, any integration creates certain duplications and opportunities for efficiency as you bring organizations together. While cost is not the primary focus, we expect there will be some organizational changes and potential reductions as we merge.
Before we make any potential organizational decisions, we need to better understand how both companies are organized, how they each operate relative to our strategy and long-term goals, and how to best leverage our collective strengths. The first part of the integration process will be to thoroughly assess each business and its teammates in order to make thoughtful and informed decisions for the future.
When integrating two companies, it is natural for teammates of both organizations to be anxious about the future. We ask for your patience as we go through this process and commit to being as transparent as we can, and as soon as we can, about key decisions once they are made.
It is important to emphasize that Quidel and Ortho must operate independently until the deal is completed. It’s “business as usual” for everyone not directly involved in integration planning. We need all employees to focus on meeting customer needs and driving business growth.
Will the 2021 performance reviews still be conducted?
Our 2021 performance and compensation review processes will proceed as planned and are already underway. Annual performance reviews for 2021 will occur in the first quarter in accordance with our past practice.Our annual review of compensation and any corresponding increases and potential performance-based-pay (PBP), where applicable,will occur per the current plan.
Will our 2021 bonus measures or payouts be impacted?
No, not at this time. We must continue to focus on achievement of our goals. Our PBP / sales commission programs remain the same with any payments for 2021 performance (based on individual, local and company performance), occurring per the current plans in place.
Will our compensation and benefit programs change after integration?
Programs of each organization will be evaluated, as will current market norms, and once this evaluation is complete, some programs may be combined for harmonization across the combined organization, or for enhanced buying power with benefits partners.
How will my job be impacted by this transaction?
At this time, there are no anticipated changes expected to your job responsibilities as a result of the transaction. As with any business, as part of our future growth strategy, leadership will continually monitor the business and may make changes to job responsibilities as required. Implementation of any changes will take place with due notice of local requirements.
When will we find out more? Where do I go for questions?
Additional communications and Q&A will be shared with teammates as this transaction continues and more details become available. If you have questions, please submit your inquiries to Q&A@orthoclinicaldiagnostics.com. While you won’t receive a direct response from this mailbox, answers will be provided in a variety of formats and forums, such as team meetings, townhalls, vblogs, Q&A emails as well as Ortho’s weekly newsletter and Inside Ortho updates.