After vocally contesting numerous press reports last week that hinted at possible job cuts, Novartis announced yesterday that it will cut 1,400 drug sales reps in the U.S.
A bare drug pipeline and expiring patents of blockbuster products like Diovan are the culprits. The cuts will ensure a "leaner" organization, according to a company spokesperson.
Novartis has also been diverting dollars to R&D, trying to fill up next year's calendar with as many product launches as possible. Since 2007, expenses in sales have dropped from 29.2% to 25.2%.
The cuts are expected to cost the drug giant about $85 million. (Bloomberg)
Related: Pharma Sales Jobs Cut as Scientists Rule
http://www.bloomberg.com/news/2010-11-30/novartis-plans-to-cut-1-400-drug-sales-jobs-in-u-s-cost-is-85-million.html
Sales Buzz
New York, New York (FINS)
Manhattan-based online ad startup Yodle is hiring 110 salespeople in the next 12 to 18 months. The company focuses on small business clients.
What Do You Do? (The Globe and Mail)
By slotting yourselves into categories like "insurance" and "software" you're doing your sales self a disservice. If you're a true salesperson, you should be able to, in theory, sell anything.
Getting 'Em Young (WXXI)
The world's second oldest profession is getting a lot younger. More millennials are picking real estate for their first jobs.
On the Inside (FINS)
Salesforce.com is on an expansion drive after posting solid results last quarter. It is hiring salespeople, and referrals are the best way to get in.
Cleaning It Up (PhysOrg.com)
Debt collectors, fudge your resumes a bit. A new study has found that certain professionals tend to make their roles "legit" by describing what they do in more flattering terms.
Marketing Buzz
On the Down Low (Daily Tribune)
Guess who's been hiring and not telling? Chrysler, that's who. The carmaker added 1,000 jobs in Michigan, including in marketing. More hiring is expected.
Stick to It (Forbes)
It's December, folks! Which means you should start readying those New Year's resolutions. But how can you stick to your career goals? Pick the right ones, to start.
Buzz Around the Office
Breakfast of the Emperor of Champions (YouTube)
You know, a solid breakfast is the best way to start your Wednesday off right. Might we interest you in a Breakfast of Booze, brought to you by our boys at Epic Meal Time?
List of the Day: What Your Dog Can Teach You
You could learn a lot from Fido for your career.
1. He doesn't complain when you wake him.
2. He's not inconvenienced by having to move.
3. He only cares what you say to him, not about him.
4. He doesn't care about how he looks to others.
5. He's there for you. Loyalty goes a long way.
6. He sniffs everything out. Take this one metaphorically, please.
(Source: BNet)
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