200 Express Scripts Inc. Employees Face Salary Cuts
2/7/2013 7:13:21 AM
Nearly 200 Express Scripts employees are slated to receive salary cuts, company officials confirmed today. The salary adjustments will affect employees across both Express Scripts and Medco Health Solutions, which Express Scripts bought last year for $29.1 billion, and are not confined to one location, Brian Henry, vice president of corporate communications, said. Henry said the pay reductions come after evaluating job titles and responsibilities at both legacy companies to make sure job titles and compensation are consistent across the organization. “We’ve gone through both companies, and if you look at the legacy companies, you find that there are some potential disparities,” Henry said. In other words, if two employees — one from each legacy company — have similar responsibilities, Express Scripts wants to ensure that those job titles are in fact similar, as well as the pay. Franklin Lakes, N.J., is home to the former Medco site, and NorthJersey.com is reporting that some employees there were asked to take cuts as high as 35 percent to 40 percent.