Wyeth cutting 1,200 US sales jobs
About 1,200 U.S. sales representatives at Wyeth have been told their positions are being eliminated as of Monday, the drug maker said Thursday.
The move is part of a major companywide program, announced nine weeks ago, to cut jobs and other costs and redesign the business of Madison, N.J.-based Wyeth, which is struggling with increased competition and fewer new drugs, like most pharmaceutical companies.
Wyeth spokesman Doug Petkus said the sales representatives, in both the company's pharmaceutical and consumer health divisions, were notified Wednesday that their jobs were being cut.
'They're field-based sales reps across the U.S.,' he said.
Petkus said they will get severance pay and continuing benefits. He would not say how many U.S. sales reps the company has.
In its last cutbacks, in 2005, Wyeth reduced its sales force by about 15 percent.
In late January, Wyeth told managers about 10 percent of its 50,000 employees worldwide might lose their jobs by 2011 under a sweeping reorganization dubbed 'Project Impact.'