Drugmaker Eli Lilly Plans to Cut Hundreds of Sales Jobs
Eli Lilly plans to cut hundreds of workers from its U.S. sales force as the drugmaker prepares to deal with the loss of patent protection for two more top-selling drugs.
layoffs and downsizing
Major Banks Cutting 160,000 Jobs Worldwide -- With More to Come
Major banks have announced some 160,000 job cuts worldwide since early last year, more layoffs are coming as the industry restructures. The numbers are much higher in Europe than in Asia or the United States -- and those loses will be a particularly heavy blow to Britain.
Layoffs Leave Everyone Worse Off
Corporate executives stick to a script when pulling the layoff lever: Cite the tough economic landscape, promise that employees will remain the firm's most valued asset, insist that there was no other option to protect the company's future. Here's why you shouldn't buy what corporate America's selling when it comes to life-ruining layoffs.
Which Comes First: Jobs or Profits?
Lots of companies are laying off workers, trying to cut costs and improve their profit margins. But how should investors view the news of job cuts at a company? As a sign of deep trouble and worse to come, or as proof of committed management and better times ahead? Here's how to read the pink slips.
Why Are Rich Companies Laying Off Poor Workers?
Several major corporations have been announcing layoffs in recent weeks, despite their fattening coffers. What accounts for all the pink slips? Consumers don't like them, nor do investors -- at least, not the farsighted ones. Here are the real reasons behind these puzzling, and troubling, terminations.
Pharmaceutical and Biotech Jobs Keep Disappearing
Companies that develop medicines have been bleeding jobs in the last few months, with three -- Biogen Idec, Charles River Laboratories and NicOx -- announcing about 1,000 new workforce cuts this week. When will the bleeding stop?
CEOs Who Laid Off More Got Paid 42% More Money
CEOs who cut the most jobs during the recession earned an average of 42% more than their S&P 500 peers, according to a study by the Institute for Policy Studies. Top execs at the 50 firms that laid off the most workers since the economic crisis began averaged nearly $12 million in 2009.