More Job Cuts in Pharmaceuticals: AstraZeneca and Ligand
More job cuts for pharmaceutical companies came across my desk this morning.
PharmaLive: Ligand Announces Corporate Restructuring
Ligand is laying off 276 people or 76% of its work force and closing down its UK subsidiary. Many high level executives are stepping down including the Chief Financial Officer, Chief Scientific Officer, General Counsel and the heads of human resources, operations, regulatory affairs and project management!! The VPs of Research and Development will stay on.
AstraZeneca axes 3,000 jobs worldwide - Yahoo! News
AstraZeneca to Slash Jobs Despite Growth: Financial News - Yahoo! Finance
AstraZeneca has announced the elimination of 3,000 jobs or 5% of it workforce over the next three years. No more details but this year will indeed be a year of upheaval for large pharmaceutical companies.
I think this was to be expected, given the number of mergers in past years. There seems to be a pendulum that swings back and forth between merging and downsizing. The interesting thing now though is that both are occurring at the same time! So maybe a pendulum isn’t the best analogy and it is really more like The Whip carnival ride where things are rotating upon multiple axis’s at once.
Technorati Tags: AstraZeneca, down-sizing, layoffs, Ligand, pharma downsizing
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