Pack your bags - boys & girls - Pfizer layoffs means that any existing contracts with OnCall will not go past its contract time or could be shortened.
Pfizer And The Incredible Shrinking Sales Force
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By Ed Silverman // December 3rd, 2012 // 8:21 am
THIS IS BEING REPEATED FROM THE WEEKEND: Once again, Pfizer is cutting its sales force. As part of what has become a never-ending reorganization, the drugmaker is eliminating between 10 percent and 20 percent of its primary care sales team across the US, according to sources. Formal notification is expected to be issued to employees by December 20.
The precise number of jobs to be cut is unclear and a Pfizer spokesman declined to provide specifics or state how many sales reps the drugmaker currently employs in its primary care teams or in total in the US. But he did acknowledge in an e-mail that cuts are going to be made.
“As part of our strategy to allocate our resources, investments and people to the areas that best serve our patients and customers, we continually evaluate how we can be more efficient and effective,” a Pfizer spokesman writes us. “As a result, we are making changes in some segments of our field force to better match the future needs of the business. Our US field force is a valued resource that we remain committed to developing throughout this period of change.”
As reported previously, Pfizer (PFE) disclosed plans months ago to cut $1 billion in expenses on top of the billions in cuts that have already been drained from R&D and marketing over the past few years in the wake of the 2009 acquisition of Wyeth and in response to generic competition, notably the top-selling Lipitor cholesterol pill (read here and here).
Of course, Pfizer is only one of many big drugmakers that continue to shed sales reps. Recently, Bristol-Myers Squibb (BMY) disclosed plans to cut nearly 500 such positions because Otsuka Pharmaceuticals is assuming responsibility for marketing the Abilify antipsychotic in the US (read here). Earlier this year, Novartis (NVS) began cutting more than 1,600 reps in the US (see this). AstraZeneca (AZN) and Abbott Laboratories (ABT) have also made sizeable cuts recently (look here and here).
Pfizer And The Incredible Shrinking Sales Force
12 Comments
By Ed Silverman // December 3rd, 2012 // 8:21 am
THIS IS BEING REPEATED FROM THE WEEKEND: Once again, Pfizer is cutting its sales force. As part of what has become a never-ending reorganization, the drugmaker is eliminating between 10 percent and 20 percent of its primary care sales team across the US, according to sources. Formal notification is expected to be issued to employees by December 20.
The precise number of jobs to be cut is unclear and a Pfizer spokesman declined to provide specifics or state how many sales reps the drugmaker currently employs in its primary care teams or in total in the US. But he did acknowledge in an e-mail that cuts are going to be made.
“As part of our strategy to allocate our resources, investments and people to the areas that best serve our patients and customers, we continually evaluate how we can be more efficient and effective,” a Pfizer spokesman writes us. “As a result, we are making changes in some segments of our field force to better match the future needs of the business. Our US field force is a valued resource that we remain committed to developing throughout this period of change.”
As reported previously, Pfizer (PFE) disclosed plans months ago to cut $1 billion in expenses on top of the billions in cuts that have already been drained from R&D and marketing over the past few years in the wake of the 2009 acquisition of Wyeth and in response to generic competition, notably the top-selling Lipitor cholesterol pill (read here and here).
Of course, Pfizer is only one of many big drugmakers that continue to shed sales reps. Recently, Bristol-Myers Squibb (BMY) disclosed plans to cut nearly 500 such positions because Otsuka Pharmaceuticals is assuming responsibility for marketing the Abilify antipsychotic in the US (read here). Earlier this year, Novartis (NVS) began cutting more than 1,600 reps in the US (see this). AstraZeneca (AZN) and Abbott Laboratories (ABT) have also made sizeable cuts recently (look here and here).