Big Pharma Layoffs

It’s the era of layoffs in Big Pharma, with nearly every major player cutting thousands of jobs. In the past few months alone, Merck, Schering Plough and Wyeth have all announced cuts.

But most of the people losing their jobs seem to be landing on their feet, according to a survey of 1,282 pharma folks who lost their jobs in the Northeast between January 2007 and March ‘08.

• About 73% of the employees found jobs at the same or higher pay level.


• 84% found work without having to relocate, the Newark Star-Ledger reports.


• The most common way to find a new job was through networking, which worked for 43% of the respondents.


• 15% percent used Internet listings


• 12% used job search firms


• 8% sent their resume directly to a company, the article says.

The survey was conducted by Right Management, which has been hired by companies in the region to provide outplacement assistance to workers who lose their jobs.