2007 has been a rough year for a number of the pharmaceutical and biotech industry’s biggest players. Concerns about patent expirations, falling sales due to drug safety concerns, redundancy from acquisitions and a general need streamline operations contributed to these companies’ decisions to cut employees. Check out this list of the top five pharma and biotech layoffs of 2007 for more on the cuts and a look at what these companies are doing to turn things around.
2. AstraZeneca - 7,600 jobs [2]
4. Johnson & Johnson - 5,000 jobs [4]
5. GlaxoSmithKline - 5,000 jobs [5]*
6. Bristol-Myers Squibb - 4,800 jobs [6]*
*These job cut announcement occured after the date this report was originally published. GSK announced cuts on 10/25/07, BMS on 12/6/07 and Novartis on 12/13/07.
Links:
[1] http://www.fiercebiotech.com/special-reports/1-pfizer
[2] http://www.fiercebiotech.com/special-reports/2-astrazeneca
[3] http://www.fiercebiotech.com/special-reports/3-bayer
[4] http://www.fiercebiotech.com/special-reports/4-johnson-johnson
[5] http://www.fiercepharma.com/story/gsk-plant-closure-begins-5-000-job-cuts/2007-10-25
[6] http://www.fiercebiotech.com/story/bms-cuts-4-800-jobs/2007-12-06
[7] http://www.fiercepharma.com/story/novartis-plots-2-500-more-job-cuts/2007-12-13
[8] http://www.fiercebiotech.com/special-reports/5-amgen