Everyone should read the book Aftershock by Dr David Weidemer. Mr. Weidemer is a brilliant economist which I had the opportunity to learn about in my MBA program. I was one of the many laidoff last year from Novartis and I for one will never go back into Pharma. Our domestic and global economy is headed for a meltdown and many industries such as Pharma are going down with it. We are living in a Global bubble with many bubbles ready to burst such as the dollar, stock market, and discretionary spending bubble. Europe and the US continue to print money at enormous rates that are creating bankruptcy, inflation, and high unemployment.
Many Wall Street experts predict that Novartis will cut 40% of their sales force which does not include the 900 they discussed in October. The NE President Mr. Kaplan(Spooky Dude) has resigned so what does that tell you. This is one of many phases that will be occuring for the next 3-5 years. In the end 80-90% of all sales forces will be gone. The industry will be getting out of Pharma and concentrating on specialty markets and KAM models. These will also eliminate jobs. As one Astra Zeneca CEO said" in 5 years 90% of our sales force will be gone and what sales are left will be done on web-cams and edetailing. Scary but true.
Many of you must think of a career change because take it from someone who has experienced a layoff last year. There are no new jobs in this industry and medical devices are just as hard to get into. I have decided that a career change is the best thing. My research has concluded that a Fed career or University career is probably the best bet. Very good pay, great benefits, and they pay for school. Also, engineering and computer science is leading the way again. I have decided to go back for my second masters degree in comp Sci/MIS. Its a hard decision but everyone must seriously consider tsome kind of career change if you want to survive.
