Huge Pharmaceutical Business Layoffs Announced
In September, Eli Lilly & Co. announced plans to reduce its work force by nearly 14%, or 5,500 employees, and revamp its operating structure. Meanwhile, large mergers between Pfizer Inc. and Wyeth as well as Merck & Co. and Schering-Plough Corp. involve significant layoffs.
Pfizer Inc., the world’s biggest drugmaker, plans to fire 19,000 workers following its acquisitions of Wyeth and had already cut 10,000 positions since 2007.
Thinking of making a debt settlement offer? See common settlement scams and financial con games first, or just visit to see how ugly the financial scene really is
Johnson & Johnson earlier this year cut about 900 jobs from its U.S. pharmaceutical unit, and today announced an additional 8400 layoffs worldwide.
Drugmakers have been slashing researchers and salesmen to try to lower costs over the past two years because of losses from generic competition.
Related News:
