Labor and talent
73 of 521 companies dropped a paragraph in Risk Factors that uses one of these words:
labor shortage, labor union, labor unions, unionized, collective bargaining, key personnel, attract and retain.
The paragraph was in the earlier 10-K and nothing like it is in the latest.
It counts text; it does not say how serious a risk is. Words in capitals only (such as AI) must be in capitals.
By sector
Sector is the SEC's industry description of the company. Each count opens that sector's quotes below.
| Sector | Companies | Compared |
|---|---|---|
| Electrical Industrial Apparatus | 1 | 1 |
| Farm Machinery & Equipment | 1 | 1 |
| Games, Toys & Children's Vehicles (No Dolls & Bicycles) | 1 | 1 |
| In Vitro & In Vivo Diagnostic Substances | 1 | 1 |
| Insurance Carriers, NEC | 1 | 1 |
| Oil & Gas Field Machinery & Equipment | 1 | 1 |
| Ordnance & Accessories, (No Vehicles/Guided Missiles) | 1 | 1 |
| Paper Mills | 1 | 1 |
| Retail-Drug Stores and Proprietary Stores | 1 | 1 |
| Retail-Eating & Drinking Places | 1 | 1 |
| Services-Misc Health & Allied Services, NEC | 1 | 1 |
| Wholesale-Medical, Dental & Hospital Equipment & Supplies | 1 | 1 |
| X-Ray Apparatus & Tubes & Related Irradiation Apparatus | 1 | 1 |
| Investment Advice | 5 | 8 |
| Computer Storage Devices | 3 | 5 |
| Aircraft Engines & Engine Parts | 1 | 2 |
| Fats & Oils | 1 | 2 |
| Industrial Inorganic Chemicals | 1 | 2 |
| Industrial Organic Chemicals | 1 | 2 |
| Instruments For Meas & Testing of Electricity & Elec Signals | 1 | 2 |
| Refuse Systems | 1 | 2 |
| Rubber & Plastics Footwear | 1 | 2 |
| Services-Amusement & Recreation Services | 1 | 2 |
| Services-Medical Laboratories | 1 | 2 |
| Finance Services | 11 | 28 |
| Computer Communications Equipment | 1 | 3 |
| Electrical Work | 1 | 3 |
| General Industrial Machinery & Equipment | 1 | 3 |
| Services-Computer Integrated Systems Design | 1 | 3 |
| Wholesale-Drugs, Proprietaries & Druggists' Sundries | 1 | 3 |
| Electronic & Other Electrical Equipment (No Computer Equip) | 1 | 4 |
| Motor Vehicles & Passenger Car Bodies | 1 | 4 |
| Search, Detection, Navigation, Guidance, Aeronautical Sys | 1 | 4 |
| Security & Commodity Brokers, Dealers, Exchanges & Services | 1 | 4 |
| Services-Computer Processing & Data Preparation | 1 | 4 |
| Hospital & Medical Service Plans | 1 | 5 |
| Industrial Instruments For Measurement, Display, and Control | 1 | 5 |
| Laboratory Analytical Instruments | 1 | 5 |
| Orthopedic, Prosthetic & Surgical Appliances & Supplies | 1 | 5 |
| Services-Computer Programming, Data Processing, Etc. | 1 | 5 |
| Petroleum Refining | 1 | 6 |
| State Commercial Banks | 1 | 6 |
| Real Estate Investment Trusts | 4 | 27 |
| Crude Petroleum & Natural Gas | 1 | 7 |
| Semiconductors & Related Devices | 2 | 15 |
| Services-Prepackaged Software | 2 | 19 |
| Surgical & Medical Instruments & Apparatus | 1 | 10 |
| National Commercial Banks | 1 | 11 |
| Pharmaceutical Preparations | 1 | 11 |
| Electric & Other Services Combined | 1 | 12 |
| Fire, Marine & Casualty Insurance | 1 | 12 |
| Electric Services | 1 | 15 |
129 paragraphs · Pharmaceutical Preparations show all sectors
Due to the highly technical nature of our drug discovery and development activities, we require the services of highly qualified and trained scientists who have the skills necessary to conduct these activities. In addition, we need to attract and retain employees with experience in development, marketing and commercialization of medicines and therapies, including cell and genetic therapies. We provide stock-related compensation benefits to all of our key employees that vest over time and therefore induce them to remain with us and have entered into employment agreements with some executives. However, the employment agreements can be terminated by the executive on relatively short notice. The value to employees of stock-related benefits that vest over time can be significantly affected by movements in our stock price and business performance, and may, at any point in time, be insufficient to counteract more lucrative offers from other companies. We face intense competition for our personnel from our competitors and other companies throughout our industry, especially with respect to employees with expertise in cell or genetic therapies. We also experience competition for the hiring of scientific and clinical personnel from universities and research institutions. Moreover, the growth of local biotechnology companies and the expansion of major pharmaceutical companies into the Boston area has increased competition for the available pool of skilled employees, especially in technical fields. The high cost of living can make it difficult to attract employees to our global headquarters in Boston and our international headquarters in London. Challenges could adversely affect our operations and financial results if we do not have sufficient staff to perform necessary functions. In addition, the available pool of skilled employees would be further reduced if immigration laws change in a manner that increases restrictions on immigration. Our ability to continue to commercialize our products and achieve our research and development objectives depends on our ability to respond effectively to these demands. If we are unable to hire and retain qualified personnel, there could be a material adverse effect on our business.
Read in the 10-K filed Feb 13, 2025 ↗