Where The Jobs Aren’t: The Layoff Tally
5 CommentsBy Ed Silverman // October 25th, 2007 // 8:01 am
C is for contraction. C is also for convulsion. Both describe what pharma is experiencing these days. And the number of jobs being cut makes it all too clear. The trend - whether one calls it layoffs, restructuring, downsizing or reorganization - was under way a few years ago, of course. Merck began eliminating thousands of jobs a few years ago. Wyeth also began trimming a while back. But 2007 has been particularly severe for the industry.
Here’s a handy list then from Fierce Biotech, which did the simple math for a Top 5. But we chose to add a couple of the more recent cutbacks, just to provide further context. Have we forgotten anyone? Please tell us:
1. Pfizer - 10,000 jobs
2. AstraZeneca - 7,600 jobs
3. Bayer - 6,100 jobs
4. Johnson & Johnson - 5,000 jobs
5. Amgen - 2,600 jobs
6. Glaxo - 1,650 jobs*
7. Novartis - 1,260 jobs
8, Abbott - 200**
* Incomplete total, reflects US and Puerto Rico only (see here)
** - Research only; doesn’t include sales reps following Kos acquisition - Thanks to the loyal reader for reminding us.
Hat tip to In The Pipeline
Mathematics Education Blog » Blog Archive » Where The Jobs Aren’t: The Layoff Tally
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rk
Do not forget the 200 scientists that Abbott let go back in February. It is not many by comparison but many lives were affected nonetheless.
Elaine B
C is for “collateral” as in collateral damage, too. This list doesn’t count all the layoffs in the supporting industries and vendors: advertising agencies, marketing companies, med-ed agencies, printing companies, mail houses, and venues for education/promotional meetings. Imagine the layoffs at companies that provided all the drug logo pens, coffee cups, clocks, notepads, baseball caps, tote bags, backpacks,etc. This is not your father’s pharma industry and never will be again.
Pharma News 11_2 « Impactiviti blog
[...] 2007 drug company layoff tally - [...]
david
layoffs sepracor 300 sales reps announced October 30th 2007