Cordis is in a slow but steady decline. Numerous product quality issues, multiple product recalls. New owners want to cut as many corners as possible, some that could affect product quality. Plan is to "streamline" as much as possible to make a profit and then sell the company in 5 years. What future that holds for the employees is unknown. Poor pay, poor benefits and low morale. Bonuses only for Manager level and above. Plan on doing the work of 2 or 3 people and working 50+ hours/week as teammates leave and are not replaced. Multiple hiring freezes during the year. Mass exodus of experienced quality teammates, the high turnover rate is really quite impressive ! H&F bought Cordis a year ago, came in guns blazing, promising the moon. All went well the first few months and then the significant budget cuts started. H&F touts themselves as a really experienced top of the line investment company but it took their IT & HR programs months to implement, and they are still not finished. Shouldn't an expertly managed company already have these systems fully in place so they can hit the ground running ??
