Investor's Business Daily (01/13/12) Rich, Gillian
Novartis has announced that it will lay off 1,960 workers in the United States and shut three of its subsidiaries, continuing a cost-cutting trend in the pharmaceutical industry. In 2010 Pfizer started implementing a plan to lay off 4,200 workers and Merck announced it would be cutting 12,000-13,000 jobs, the largest cuts in the industry. AstraZeneca plans to lay off 1,150 workers, about 24 percent of its U.S. sales force, by February 2012.

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