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Watch Out for the Falling Axe

Dec 17, 2008

In the latest round of job cuts in the pharma sector, Bristol-Myers Squibb announced it will be cutting 10 percent more of its 37,000-person workforce (they had a 10 percent reduction last year), according to the Wall Street Journal's Health Blog. "Add in weak pipelines of new drugs, tough regulatory scrutiny, and pricing pressure from big purchasers, and it's clear why the industry is seeing round after round of job cut," Jacob Goldstein adds.

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