Schering-Plough to cut 1,000 sales jobs
Written on September 22, 2008
Schering-Plough Corp. says it will cut 1,000 sales jobs as part of broader cuts in a move to reduce costs and reposition itself in an ever-changing industry.
The company says it will cut 1,000 U.S. sales force jobs, leaving 4,000 positions. The layoffs come on top of a 10% reduction in staff announced in April. In all, the company hopes cost cuts and layoffs since the company bought biotechnology company Organon Biosciences in November will save it $1.5 billion annually paydayloans.
Shares of Schering-Plough (SGP-B) are up 6 cents to $18.46 in afternoon trading.
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