Big pharma and medical-devicemakers have been announcing layoffs for weeks. With a recession deepening around us and companies from every industry laying off workers in an effort to stay solvent, it seems almost too obvious to say that these layoffs are related.
Or is it? Industry watchers are saying that it's not as obvious as it may seem. Many companies, they say, are not actually struggling much, at least not yet. Earnings remain solid. Perhaps these healthcare companies are telling the truth when they say that they are simply streamlining their operations.
And of course, pharmaceutical companies and devicemakers constantly have to adjust as various moneymakers go off patent. All may not be as dark as it seems, at least in this sector of the healthcare industry.
To learn more about industry watchers' explanations:
- read this Modern Healthcare piece