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A Look at Drug Industry Layoffs

By Associated Press April 4, 2008 Comments (0)

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Major job cuts by pharmaceutical companies since January 2007, and when they were announced:

_ Schering-Plough Corp., 5,500 jobs, 10 percent of staff (April 2)

_ Wyeth, 5,000 jobs, or 10 percent, Jan. 25

_ Novartis AG, more than 3,760 jobs, or 4 percent (Oct. 2007-Jan. 2008)

_ Bristol-Myers Squibb Co., about 4,200, 10 percent (Dec. 2007)

_ Bayer AG, 1,500 jobs, 1.5 percent (Nov. 2007)

_ GlaxoSmithKline PLC, unspecified jobs (Oct. 2007)

_ King Pharmaceuticals Inc., 560 jobs, or 20 percent (Oct. 2007)

_ Johnson & Johnson, up to 4,800 jobs, or 4 percent (July 2007)

_ AstraZeneca PLC, 7,600 jobs, 4 percent (July 2007)

_ Encysive Pharmaceuticals Inc., 150 jobs, 70 percent (June 2007)

_ Pfizer Inc., 10,000 jobs, or 10 percent (Jan. 2007)

_ Ligand Pharmaceuticals Inc., 267 jobs, or 76 percent (Jan. 2007)

Prior major restructurings:

_ Merck & Co., trimmed 7,200 jobs since December 2005.

_ Eli Lilly & Co., trimmed more than 5,000 jobs, about 11 percent, since 2004 and continuing.

___

Source: Drug companies.

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