CIBA PHARMS CUTTING 350-450 JOBS WITH SALES FORCE TAKING MAIN BLOW

Executive Summary

CIBA PHARMS CUTTING 350-450 JOBS WITH SALES FORCE TAKING MAIN BLOW in the company's latest downsizing. Ciba Pharmaceuticals announced the restructuring April 14. The company will cut the size of the Ciba U.S. division's work force of approximately 4,600 by 7.6% to 9.8% to between roughly 4,250 and 4,150. The company said employees would be informed of their job losses "no later than mid-July" and that decisions as to who to cut would be made by a "special steering committee" that is being formed. The committee will also look at job transition options.