ATD Blog
Thu Jul 23 2009
) July 22, 2009 -- As the second quarter came to a close last month,
companies nationwide scrambled to get somewhere close to their
bottom-line projections. With the continuing economic problems in the
United States -- which many experts now call an outright recession --
companies are still required to cut back on their biggest expense:
their employees. In June, pharmaceutical companies increased layoffs,
though most layoffs came from health care. Despite that, health care
employment increased overall by 21,000 people, which is the average for
the first two quarters of 2009.
Generally, hospital systems have continued eliminating jobs and leaving
open jobs unfilled due to loss of profits, an increase in uninsured
patient care, and a decrease in reimbursements from insurance companies
including Medicare and Medicaid. As for pharmaceutical companies, many
are scaling back their research efforts due to the heavy costs involved
in bringing a new medication from development to market. The largest
cut in June came from Oscient Pharmaceuticals in Massachusetts, as they
announced the elimination of 150 sales representatives along with 30
additional marketing and corporate positions (The Boston Globe,
6/12/09).
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