Big Pharma Is Still Cutting Jobs, at Least in the West

Several years ago, Big Pharma started a huge restructuring wave in preparation for what's called "patent cliffs" -- when companies stand to lose patent protection on blockbuster drugs. Because their pipelines of upcoming new drugs were slack, the restructurings included massive layoffs. Then another slew of job cuts hit pharmaceuticals as the global recession set in. But even now, the bloodletting doesn't seem to be over.