Marlborough, Massachusetts-based Sumitomo Pharma America, a pharmaceutical company, has announced a general restructuring of its U. S. subsidiary.
The reorganization and right-sizing will impact 400 employees.
According to a company statement...
Sumitomo Pharma Announces Reduction of Workforce and Other Rationalization Measures of the USA Consolidated Subsidiary
Sumitomo Pharma announced that in light of the current severe business environment and to achieve a recovery in the Group's performance, the Company has decided to implement rationalization measures including personnel reduction at its USA consolidated subsidiary, Sumitomo Pharma America, Inc.
1. Reasons for rationalization of personnel reductions, etc.
Sumitomo Pharma hereby announces that, as part of its efforts to improve management and organizational efficiency for future profit structure reform, it has decided to implement a reorganization of SMPA, with the aim of further streamlining its operations in the United States, thereby reducing the workforce at SMPA in accordance with the details described below.
2. Details of rationalization
For the purpose of restructuring to a leaner organization and optimizing the workforce in the North American business, the Company will rationalize the workforce by approximately 400 employees in total in March 2024. In the Sales & Marketing Division, an optimal organizational structure will be implemented for the continued expansion of revenue from the three key products.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?