I'm in the biotech/pharma industry and we've seen many layoffs this past week alone. The ironic thing is I'm not sure how much of it has been related to the economy. These companies are too big, without new innovation and patents expiring, there's really no other choice than to get smaller. All the major pharma companies in my area laying off, and the worst one to come will be a result of the Wyeth purchase from Pfizer, which will be approximately 20,000 job losses. (Others: Merck 7,400 from last September, Astra Zeneca 7,500 announced Thursday and many more to come...)

This industry used to be really good, but I think those days are long gone.