Company: Abbott Labs
Scoop: After purchasing Solvay Pharmaceuticals, Abbott found the need to eliminate 3,000 jobs, the largest layoff in the company's history, with the majority of those hitting its European operations. "The restructuring will streamline our operations and improve efficiencies across the pharma business as we said we'd look to do at the time we announced the acquisition," Abbott spokeswoman Melissa Brotz said to the Wall Street Journal. As part of the restructuring, Abbott closed Solvay's Marietta, GA offices and cut staff from Hannover, Germany and Weesp, Netherlands. But the layoffs aren't over; PharmaTimes expects more layoffs over the next two years as the company continues the Solvay integration.