Reuters Article
AstraZeneca, the maker of Nexium and Crestor, just announced an unprecedented 120 percent cut in its salesforce. You read right. 120 percent. A spokesperson for AstraZeneca mentioned that it made business sense.
Iman Diot, the spokesperson said "when we ran the numbers it made sense. If cutting 30 percent yields a 2 billion dollar profit then why stop there?" So let's cut 100 percent of the salesforce. However lets make even more and cut an additional 20 percent above that. So AstraZeneca will send layoff notices to 20 percent extra at other companies including Merck and GSK.
Spokespeople from those companies were not available to comment. We were able to get input from Dr. Ishea Neem Rodd, Professor of Finance at the prestigious Harvard Business School. While economically this makes sense from a business perspective it doesn't due to AstraZeneca, at least in theory, ceasing to exist. We should weigh all the variables commented Dr. Neem Rodd
AstraZeneca, the maker of Nexium and Crestor, just announced an unprecedented 120 percent cut in its salesforce. You read right. 120 percent. A spokesperson for AstraZeneca mentioned that it made business sense.
Iman Diot, the spokesperson said "when we ran the numbers it made sense. If cutting 30 percent yields a 2 billion dollar profit then why stop there?" So let's cut 100 percent of the salesforce. However lets make even more and cut an additional 20 percent above that. So AstraZeneca will send layoff notices to 20 percent extra at other companies including Merck and GSK.
Spokespeople from those companies were not available to comment. We were able to get input from Dr. Ishea Neem Rodd, Professor of Finance at the prestigious Harvard Business School. While economically this makes sense from a business perspective it doesn't due to AstraZeneca, at least in theory, ceasing to exist. We should weigh all the variables commented Dr. Neem Rodd