Sermo exits financial services

Share this article:
Sermo has nixed its financial services offering, cutting headcount sharply as a result, and is doubling down on its pharma business.

Xconomy reported in December that Sermo laid off 30—nearly half of its staff. CEO Daniel Palestrant did not affirm that number but confirmed layoffs.  

“When we looked at where the growth was, we decided pharmas are adapting quicker than financial services and are obviously a bigger market. We took a headcount reduction rather than accept more money,” he said.
Growth in the startup's pharma roster has enabled Sermo to add back some staff. He said the firm will reach profitability in 2010.
Share this article:
You must be a registered member of MMM to post a comment.
close

Next Article in Features

Email Newsletters

MM&M Future Leaders


Register now

Early bird $1,950 before 31 October 2014

*Group discounts available on request 

MM&M EBOOK: PATIENT ACCESS

Patient access to pharmaceuticals is a tale of two worlds—affordability has improved for the majority, while the minority is hampered by cost, distribution and red tape. To provide marketers with a well-rounded perspective, MM&M presents this e-book chock full of key insights. Click here to access it.

More in Features

Read the complete October 2014 Digital Edition

Read the complete October 2014 Digital Edition

Click the above link to access the complete Digital Edition of the October 2014 issue of MM&M, with all text, charts and pictures.

Predicting your pink slip

Predicting your pink slip

Any time a firm needs to save money, high-salaried executives are targets

Private View: New ways to engage with customers

Private View: New ways to engage with customers

These healthcare social media campaigns successfully use emotion, altruism and the human desire to "brand" oneself to get customers engaged.