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


What does going "beyond the pill" actually mean? At MM&M's recent inaugural spring conference, audience members heard from real-world companies that are managing the organizational, technological, and promotional challenges inherent in this transition, such as partnering with health neophytes, harnessing technologies that allow deeper engagement with patients, and adopting a new commercial mindset to serve, not sell. Download here.


A wave of more effective anti-cancer drugs has set the oncology world on fire with enthusiasm. While many hail this as a new era, an equally vocal faction questions the money spent for the value gained. This medical and commercial trend report for marketers of anti-cancer modalities touches on many of the latest shifts that have expedited product launches and otherwise impacted promotion and reimbursement of these drugs. Click here.