Schering-Plough To Cut 1,000 US Sales Rep Jobs



(Sept 19) Schering-Plough plans to eliminate about 1,000 U.S. sales representatives, or about 20% of its field force, in a move to cut costs. The changes are part of a broader "productivity" initiative, announced in April. At that time, Schering-Plough said it planned to generate annual savings and synergies of $1.5 billion by the end of 2012 through work-force reductions and plant closures, among other actions. This cost reduction effort is also in response to increased pressure on the industry as well as a downturn in sales of cholesterol drugs Vytorin and Zetia, which Schering-Plough co-markets with Merck. CNN Money

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