The Wall Street Journal-20080128-Wyeth- Roughly 10- of Work Force May Be Cut in Next Three Years

Return to: The_Wall_Street_Journal-20080128

Wyeth: Roughly 10% of Work Force May Be Cut in Next Three Years

Full Text (113  words)

Wyeth said Friday it is considering reducing its work force by about 10% in the next three years, as the Madison, N.J., drug maker grapples with generic competition for top products and setbacks in efforts to bring new drugs to the market. Wyeth spokesman Doug Petkus said Wyeth "is in the early stages of a process to discuss with its employees a plan to evaluate its business over a three-year period, with an emphasis on transforming its business and reducing spending." The company expects to tell employees details of the plan in March. Among the options being considered is "a reduction in force equal to about 10% of current positions," Mr. Petkus said.