Job Cuts Announced at Wyeth
Well, it had to happen sooner or later. Wyeth said on Friday it is considering cost cuts that could eliminate 10 percent of its work force over a three-year period.
Wyeth, whose earnings prospects have been hurt by delays last year in approvals of new medicines and the recent launch of a generic form of its blockbuster Protonix ulcer medicine, currently has 50,000 employees worldwide.
A company spokesperson said "It is premature to even begin to discuss which positions will be affected or how (job cuts) will be achieved. We are evaluating our business and trying to find ways to be more efficient, and part of that is to keep costs under control". He noted that details of the initiative will be presented to employees toward the end of March.
Stay tuned for more details!!!!!!
Until next time….
Good Luck and Good Job Hunting (avoid Collegeville, PA)!!!!!!!!!
