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- BNET Author Biography
Jim Edwards, a former managing editor of Adweek, has covered drug marketing at Brandweek for four years. He is a former Knight-Bagehot fellow at Columbia University's business and journalism schools. He has also won the Neal award for business journalism, an S.P.J. award for investigative journalism, and the N.J. Press...- more about Jim Edwards »
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- GSK Roiled by Layoffs: 350 R&D Staff Cut; Scientists in Italy Stage a Strike
- Confusion continues at GlaxoSmithKline this morning as R&D employees attempt to figure out if they'll be receiving pink slips and their bosses attempt to keep everyone calm. Tension at the company has been building since Chemistry World reported that GSK sought hundreds of job cuts internationally at...
- Blog posts 2008-08-05
- Pfizer's Layoff Plan Explained
- Pfizer CEO Jeff Kindler isn't resting in his reorganization of the company. But although that plan is said not to involve layoffs, no one seems to believe it. As such, Pfizer is heading into territory previously ploughed by GlaxoSmithKline, which was plagued by layoff rumors throughout the summer while the...
- Blog posts 2008-10-08
- Schering-Plough's Hassan Made Stock Gains as Price Tumbled and Layoffs Grew
- About 1,000 sales reps are being let go from Schering-Plough this week. That's on top of 60 animal health reps also being fired. Roughly 5,500 employees in general are being axed in Schering-Plough's cost-cutting drive. If you're one of those people, comfort yourself with the fact that...
- Blog posts 2008-09-19
- Will Wyeth's Layoffs Show Up in Bottom Line?
- It will be interesting to see on Oct. 22 when Wyeth presents its third-quarter earnings whether the company actually managed to save some money through all the layoffs it is doing. Wyeth said back at the halfway point of the year that its cuts had somehow driven its costs up:...
- Blog posts 2008-10-16
- Merck Plans 7,200 Job Cuts; Will Spend Up to $2 Billion on Layoffs
- Merck described the astonishing scale of its layoffs program today. The company will spend up to $2 billion when it is done, and will have axed 17,600 jobs in total. Here's a breakdown of the plan: The cuts cost $757 million in the third quarter of 2008....
- Blog posts 2008-10-22
- Abbott Labs' Secret Weapon: Layoffs
- Sometimes a company does everything right and no one notices: Abbott Labs just unveiled a stellar third quarter and investors shrugged, leaving its stock flat. The basics you already know: Profit up 51 percent to $1.08 billion, sales up 17.6 percent to $7.5 billion. But check out...
- Blog posts 2008-10-15
- Omnicom's Wren Hints at Layoffs, Bonus Cuts to Come
- A close look at Omnicom's third quarter earnings and the agency holding company's conference call offer some worrying data points of you're an employee at one of CEO John Wren's agencies: The boss says you're a flexible expense who could be cut. Let's examine what was said...
- Blog posts 2008-10-27
- GlaxoSmithKline Employees Fume Over Latest Round of Layoffs
- GlaxoSmithKline is historically terrible at handling layoffs news, and the round of job cuts that appears imminent is no exception. (Update: the official announcement is coming on Wednesday.) As usual, the news is being debated all over the net before management has gotten out of bed just like last time....
- Blog posts 2008-11-04
- How to Figure Out Whether You're About to Lose Your Agency Job
- One way to understand the wave of layoffs that is running or about to run through IPG, WPP, Publicis and Omnicom is to look at how effective ad agency employees are at making money for their companies. The answer is often "not very," especially when you compare them to their...
- Blog posts 2008-11-06
- Sanofi Reps' Morale Hits New Low as Layoff Rumors Circulate
- Sanofi-Aventis managers are driving their sales reps crazy with their refusal to either name a day on which layoffs will be announced or announce layoffs are not happening. With concrete information absent, rumors are taking their place. This person thinks the layoff count was determined five months ago. But this...
- Blog posts 2008-11-18
- How AstraZeneca's U.S. Sales Reps Avoided the Current Round of Layoffs
- AstraZeneca staff in the U.S. dodged a bullet this morning as the company announced 1,400 layoffs -- but none of them in America. The job losses will come instead in the U.K., Spain, Belgium and Sweden. AZ's explanation of the move was a masterpiece in cynical management-speak and news-burying. Its...
- Blog posts 2008-11-20
- Sanofi Names D-Day for Layoffs: Dec. 1
- Sanofi-Aventis has named a day for announcing its layoffs: Dec. 1, a source tells BNET. The Dec. 1 date already came up on Café Pharma as a possible timeframe for the call. The news gives Sanofi's sales reps Thanksgiving but not Christmas/Hannukah to enjoy their jobs. Here's the post on...
- Blog posts 2008-11-24
- Bristol-Myers Squibb Plans $2.5 Bil. in Layoffs, Cuts
- Bristol-Myers Squibb made a presentation this morning at the Credit Suisse Healthcare Conference that showed CFO John Marc-Huet wants to save the company $2.5 billion in "productivity initiatives." He's going to squeeze these out of "headcount and related costs" -- which sounds like a euphemism for layoffs. ...
- Blog posts 2008-11-13
- Despite layoffs, Abbott Labs Faces Retirement Wave in 5 Years
- A report in Kiplinger's notes that roughly 25 percent of the employees of Abbott Labs are age 50 or older, and in five years that number could top more than 40 percent. The demographics are likely similar at many other large drug companies. Abbott is experimenting...
- Blog posts 2008-12-01
- Several Hundred Sanofi Reps Get the Ax
- BNET readers were informed on Nov. 24 that there would be mass layoffs at Sanofi-Aventis on Dec. 1. Lo and behold -- it happened. The company says less than 10 percent of its sales force has been let go. The company employs 6,500 reps, so that's 650 or fewer. (BNET...
- Blog posts 2008-12-04
- Pfizer's "No-Layoffs" Plan Results in January '09 Layoffs
- Pfizer looks to be preparing another round of mass layoffs for January. This thread on Cafe Pharma indicates January 26 is the key date. Back in October, a Pfizer spokesperson said that the reorganization of the company into three new business units would result in "no layoffs." As BNET readers...
- Blog posts 2008-12-05
- WPP's Sorrell Confirms Layoffs; Jobs in "Mature Parts" to Be Cut
- WPP chief Martin Sorrell confirmed there will be layoffs in his agencies soon. Speaking at the UBS Global Media and Communications Conference, Sorrell listed all the usual reasons: weakening economy, reduced adspend, and the collapse of the big western car companies. While layoffs are likely to occur...
- Blog posts 2008-12-11
- Why Isn't Digitas Growing Fast Enough to Absorb Its Layoffs?
- The layoffs of 2 percent of Digitas' staff raises the question of whether Publicis paid too much -- $1.3 billion -- to acquire the digital ad agency network in 2006. Most of the reports have focused, rightly, on the fact that Digitas client General Motors is likely to abandon or...
- Blog posts 2008-12-12
- Advertising Roundup: Dentsu to Enter Russia; Levi's Picks Wieden; Layoffs at Euro RSCG; And More ...
- Dentsu to enter Russia -- Dentsu, Japan's largest advertising company, will set up a subsidiary in Russia as it aims to expand out of its mature home market. PHD owed the most by Chrysler -- Chrysler could be headed to bankruptcy court -- a move that could...
- Blog posts 2008-12-14
- Advertising's Black Thursday: Layoffs, Spend Cuts, Hiring Freezes and Client Collapses Bedevil the Biz
- It will be a cold Xmas and a dark New Year for ad agency folks, as network chiefs, clients and analysts spent most of this week either firming up plans for job cuts or revising downward their already grim predictions for adspend in 2009. Even freelancers felt the chill, as...
- Blog posts 2008-12-18
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