Tough business climate roils IMS

IMS Health said it intends to lay off 10% of its workforce, or as many as 760 employees worldwide. The firm will take a 2007 Q4 charge of $86-$90 million to account for the terminations.

To be completed by year's end, IMS said the layoffs are designed to help survive a tough business climate. Last year many of its potential clients announced layoffs, including Pfizer, AstraZeneca, Johnson & Johnson, Bristol-Myers Squibb and Amgen. Meanwhile, IMS saw moderating revenue growth and pressure on operating margins.

In an SEC filing, IMS said its restructuring would impact 1,050 employees. (The firm may add back some new positions in higher growth markets.) Those who do statistical and analytical work, as well as consultants, will be affected, as well as marketing, finance and administration.

IMS, which operates in more than 100 countries with about 7,600 employees worldwide, had 2006 revenue of $2 billion. 
You must be a registered member of MMM to post a comment.
close

Next Article in Features

Email Newsletters


As US pharma continued its quest for a Grand Prix at the Lions Health international festival of creativity, MM&M went on location to Cannes, France. Missed our coverage from June? Now, we're giving you an opportunity to catch up on some of what you missed. Download our e-book on the two-day festival, recapping the event, rounding up the best of the speakers, offering perspective and listing all of the winners. Click here to download.


The most recent MM&M Skill Sets Live event surveyed a range of issues relating to one of the hottest promotional spaces in healthcare. Speakers and panelists at the morning-long session, including promotional- and multichannel-minded executives from GSK, Epocrates, Treato and Montefiore Medical Center, weighed in on topics designed to help marketers demystify the challenges associated with non-personal promotion. Click here.