As reported in today's Newark Star-Ledger, Schering-Plough's New Jersey employees will bear the brunt of Fred Hassan's plan to fire, terminate, let go with extreme prejudice, 5,500 people in S-P's workforce:
"Schering-Plough's chief executive said yesterday the budget ax will fall first and hardest in New Jersey as the drugmaker cuts more than $1 billion in spending after the abrupt collapse of its top-selling cholesterol medicines.
"Fred Hassan said the global cost-cutting plan announced late Wednesday was still under development, but workers in the United States -- particularly employees at the company's Kenilworth headquarters -- would bear the brunt of the projected 5,500 layoffs.
"'The way it's going to fall on the U.S., unfortunately, it's going to fall on New Jersey,' Hassan said in a telephone interview. 'That's the way the situation has unfolded.'"
"That's the way the ball bounces, the cookie crumbles! Too bad for you! But, hey, I'm OK!"
A lot of families will be in trouble at the worst possible time as the entire US economy may be heading for a recession (according to Warren Buffet, Ben Bernanke, and other "insiders").
Not all who are axed will be seeking jobs at other pharmaceutical companies, many of which are cutting back as well, but these are qualified people who can help pharmaceutical vendors work smarter and find potential clients within the drug industry. I propose, therefore, to help these people network with vendors -- ad agencies, medical communications companies, solution providers, technology companies, etc -- and possibly find at least some leads to a new career.
Networking Dinner Reception
An evening of networking, food, and information sharing
I invite all soon-to-be laid off employees of S-P to sign up to attend the networking dinner reception. You can find out more about here and sign up for early-bird discount registration via the Networking Event Preferences Survey.
Don't Take the Axe Laying Down!
You must get out there and network if you expect to find a new job and generally CREATE opportunities rather than wait for them to come to you! That is why Pharma Marketing Network is AGAIN hosting a networking event for pharmaceutical sales and marketing professionals.
P.S. We are looking for a venue for this event in New Jersey, probably somewhere between Princeton and Parsippany. You can help us choose the location and venue by responding to the Preferences Survey. Thank you and good luck!