AbbVie Terminations/Layoffs

Have you been affected by the current layoffs, terminations, firing, or restructuring of AbbVie? If so comment below and let the community know what is going on inside the organization.

Current Confirmations:

No information currently available. Let us know in the comments below if you have something to share.

 

About AbbVie:

AbbVie is a pharmaceutical company that discovers, develops and markets both biopharmaceuticals and small molecule drugs. It originated in 2013 as a spin-off of Abbott Laboratories.

On October 19, 2011, Abbott Laboratories announced its plan to separate into two publicly traded companies. The “new” Abbott Laboratories would specialize in diversified products including medical devices, diagnostic equipment and nutrition products, while AbbVie would operate as a research-based pharmaceutical manufacturer. The separation was effective January 1, 2013, and AbbVie was officially listed on the New York Stock Exchange (ABBV) on January 2, 2013.

According to Miles White, CEO at the time, the purpose of the split was to allow markets to value the two businesses separately; White said that investors would “benefit from two fundamentally different investment opportunities with distinct strategic profiles and business priorities.” Some investors were concerned that the split was done to protect the value of the device business from the loss of value facing the drug division due to the imminent expiration of patents on Humira, which accounted for about half of the drug division’s revenue.

As of December 2015, the company employed in excess of 28,000 globally, and provided products to individuals in more than 170 countries.

 

 

How were you affected?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.