Pharmaceutical Companies Shed Thousands of Jobs; PharmaceuticalCrossing Revs Up Efforts to Improve Job Market

February 03, 2009   |    PDF version

Pasadena, CA — Leading pharmaceutical companies added uncertainty to their industry after AstraZeneca and GlaxoSmithKline announced major job cuts in the wake of greater generic drug competition. The latest round of cuts follows Pfizer's merger with Wyeth which gave way to a combined reduction of nearly 19,500 jobs at both the companies. PharmaceuticalCrossing, the exclusive job board for pharmaceutical professionals, is aware of the latest cuts in the industry, and strives to post more and more pharmaceutical jobs in its database. As of now, more than 25,000 jobs have been posted on the site, which are new and active. The site's only mission is to track down every pharmaceutical job opening through research, offering a comprehensive collection of researched job openings in the process.

''Industry experts suggest more job cuts due to Pfizer's $68 billion-worth planned acquisition of Wyeth,'' says Harrison Barnes, the CEO and founder of PharmaceuticalCrossing. ''But PharmaceuticalCrossing is doing everything it can to stem the rising unemployment figures in the industry.''

According to various sources, Pfizer-Wyeth announced 19,500 job cuts, Merck said it would shed 5,000 of its employees, while AstraZeneca announced that it is giving pink slips to 15,000 of its workers. New Jersey is the biggest loser of jobs related to pharmaceutical industry, because most of the companies are based there. GlaxoSmithKline also plans to cut about 6% of its workforce as increasing competition from its rivals is threatening its earnings. Most of the companies are announcing reductions in their workforce following dismal earning reports for the quarter and weak economic situation.

Several analysts are of the opinion that most pharmaceutical companies are struggling because they invest huge money in research and development of potential drugs but encounter failures in the later stages of its development. Hence the companies are on the lookout for covering up their costs by one way or the other. ''But there are more ways a company can resort to, instead of taking a toll on their workforce,'' adds Barnes.

''PharmaceuticalCrossing is poised to add each and every pharmaceutical job opening which can be found in US to its site. The website added about 25,321 new pharmaceutical jobs to its database. These jobs have been collected from more than 8,000 job boards and 250,000 employer websites by hundreds of researchers. We aim to add more jobs from all possible sources, including all the hidden jobs.''

PharmaceuticalCrossing offers the largest collection of pharmaceutical jobs, including jobs for chemists, clinical researchers, pharmaceutical researchers, druggists etc. all in one place. PharmaceuticalCrossing consolidates the job-search process by combining thousands of available pharmaceutical jobs into a single easy-to-search database. This allows users to access a widespread variety of available pharmaceutical jobs with thousands of employers.

For more information on PharmaceuticalCrossing, please visit www.pharmaceuticalcrossing.com.

Contact:
Mary Wilson, Editorial Coordinator
PharmaceuticalCrossing
626-243-1821
mary@employmentcrossing.com

About PharmaceuticalCrossing
PharmaceuticalCrossing is an affiliate of EmploymentCrossing, a powerful and comprehensive organization dedicated to helping professionals find jobs that will enhance their careers. PharmaceuticalCrossing consolidates every pharmaceutical job opening it can find in one convenient location. The website also offers a seven-day free trial to new members.