Brace yourselves, Pfizer folks. Word is that another round of layoffs is on the way early next year. Industry analysts have been digging through the numbers, and they don't think the company has cut enough jobs. Meanwhile, talk around Pfizer's many water coolers is that the axe will fall--again--in late January.
Two years ago, Pfizer cut 20 percent of its sales and marketing staff; it has chopped 14,000 jobs, total, since January of 2007. And the company is in the middle of a $2 billion restructuring plan. Then, a few months ago, the company reorganized into three business units. Execs said at the time that there would be no layoffs.
But as Jim Edwards at BNet Pharma reports, sales reps are buzzing about another round of cuts. ("It really does feel like this is the Titanic slowly sinking," noted one CafePharma commenter ) And analysts are saying that drugmakers in general need to slash their sales forces by another 25 percent or so, Pfizer included.
- read the post at BNet