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TheDay.com - Drug-firm layoffs slowing down | Southeastern Connecticut News, Sports, Weather and Video | The Day newspaper

Drug-firm layoffs slowing down

Published 09/02/2010 12:00 AM
Updated 09/02/2010 02:03 AM

August job losses in the pharmaceutical industry slowed to a crawl's pace, but the industry still accounts for the second-largest number of layoffs in any sector, according to new numbers released Wednesday.

Only 255 positions in the drug industry were lost last month, according to outplacement consultant Challenger, Gray & Christmas. This compares to 321 cuts last August.

In all sectors, layoffs are one-third what they were in 2009.

Government and nonprofit workers continue to face the highest layoff totals, with more than 112,000 having lost jobs this year. Drug-company employees this year have been hit with 37,265 layoffs.

- Lee Howard

Town News

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