It never ceases to amaze me how companies can announce such large cost-cutting measures when things are looking bleak for their revenue growth. Why was it OK for them to have all that extra fat in the first place?
The latest pharmaceutical company to jump on the cost-cutting bandwagon is Schering-Plough
The cuts will come early and often, with most completed by the end of 2010. Including the synergies associated with its acquisition of Akzo Nobel's
Most of the cuts will come in the U.S., since sales of Schering's international drug offerings are actually doing quite well. It recently updated its deal with Johnson & Johnson
In this market, cost-cutting is the new black -- Wyeth
Fool contributor Brian Orelli, Ph.D., doesn't own shares of any company mentioned in this article. Johnson & Johnson is a selection of the Income Investor newsletter. The Fool's disclosure policy just fired its agent.