AMERICAN HOME PRODUCTS' ELIMINATION OF 4,300 JOBS
This article was originally published in The Tan Sheet
Executive Summary
AMERICAN HOME PRODUCTS' ELIMINATION OF 4,300 JOBS from its worldwide pharmaceutical and consumer health care operations worldwide is another step in the company's ongoing restructuring program meant to "maximize efficiencies and reduce costs," AHP said July 21. The job eliminations include 2,300 international positions cut in "operational consolidations already undertaken" in Brazil, Europe and Canada, AHP reported. The overseas restructuring had been accounted for in previous quarters; however, AHP took a $174 mil. charge in the second quarter to account for the elimination of 2,000 jobs in the U.S.