Saturday, June 7, 2008

New wave of job cuts hits health care

A lack of significant new drugs and products, declining sales of lucrative flagship franchises and fierce competition have set off a wave of "restructuring" moves among the biggest names in health care. In many cases, restructuring is a euphemism for eliminating thousands of jobs, and it remains to be seen whether these moves are quick fixes to prop up dwindling profits, or a recognition of the industry.

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