You read it here first. As part of a reorganization already under way, the drugmaker is eliminating 1,000 sales jobs - or 20 percent of its sales force - by October. Many of the 4,000 or so surviving reps, meanwhile, will be shifted to pitch different types of docs or work in other territories. A Schering-Plough spokesman confirmed the cuts.
The move is being made in response to two very different developments- the recent acquistion of Organon Bioscences and the collapse in Vytorin and Zetia scrips. Last April, ceo Fred Hassan trumpeted plans to cut 10 percent of the drugmaker’s workforce of 55,000 in order to save up to $1.5 billion by 2012, although most of the cuts are expected to occur by 2010.
The cutbacks include consolidating management; using more shared staff support and services; reducing travel; cutting sales and marketing; slashing R&D; consolidating product lines, particularly in the animal health unit; and closing some of the 60 manufacturing plants. Numerous jobs were already eliminated in recent months. About 60 animal health sales reps are also being axed today, for instance.