Challenger

Pharma Layoffs Drop to 1,929 in October

Friday, November 5, 2010 11:33 AM

After spiking to 6,069 job cuts in September, layoffs in the pharmaceutical industry dropped to 1,900 in October, according to a report in FiercePharma from consultancy Challenger, Gray and Christmas. The industry ranks 7th in total job cuts this month; for most of the year, it's been one of the top five job-cutting industries. But with 45,263 cuts reported so far in 2010, pharma remains the second-highest job-cutting sector. Overall, the pace of job cutting is down 62 percent from a year ago, with employers announcing 449,258 job cuts year to date, compared to 1,192,587 over the same period in 2009.

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