Wyeth cutting 1,200 U.S. jobs in restructuring

About 1,200 U.S. sales representatives at Wyeth have been told their positions are being eliminated as of Monday, the drug maker said Thursday.

The move is part of a major companywide program, announced nine weeks ago, to cut jobs and other costs and redesign the business of Madison, New Jersey based Wyeth, which is struggling with increased competition and fewer new drugs, like most pharmaceutical companies.

Wyeth spokesman Doug Petkus said the sales representatives, in both the company's pharmaceutical and consumer health divisions, were notified Wednesday that their jobs were being cut.

Source : http://www.chinapost.com.tw/