Posted on 05/18/2010 9:39:22 AM PDT by Willie Green
NEW YORK—Pharmaceutical giant Pfizer Inc. on Tuesday announced that it would shut down eight manufacturing plants around the world, scale back production at several other sites, and slash 6,000 total jobs in its ongoing restructuring effort to cut down on payroll expense.
The job cuts are related to its $68 billion acquisition of rival Wyeth last year and part of an announced 19,000 job cuts to be enacted by 2015.
Such expense reductions were expected at Pfizer, based in New York, as the company braces itself to lose its patent on cholesterol drug Lipitor, which accounted for more than $11 billion in annual revenues for the company.
The plants that will close include those in Puerto Rico, Ireland, Virginia, and New York. Operations at several other locations such as Sanford, N.C. and Havant, U.K. will be scaled back.
In a statement, Pfizer’s Manufacturing Director Nat Ricciardi called the job cuts “critical to our efforts to remain competitive.”
Pfizer had 113,000 employees globally as of March 31.
Hey, NY — how’s that Hope & Change workin’ for ya?
There you go, Obango!.....6000 more jobs you need to pull out of your a#$!!!....
“Operations at several other locations such as Sanford, N.C. “
Sanford has a healthy population of sout’O’D border illegals.
And to think when you were posting this doom/gloom stuff a few years ago people thought you were nuts....
Yes, but getting these guys vetted to work in a pharma plant is problematic. No can do.
This is hugh...pharma is not an industry that is subject to the kind of labor pressures that other manufacturing segments have been.
This was a foreseen side-effect of the merger however Pharma is not as recession-proof as it used to be...
Perhaps if the government made FEWER demands on companies, then companies could afford to retain workers.
Garde la Foi, mes amis! Nous nous sommes les sauveurs de la République! Maintenant et Toujours!
(Keep the Faith, my friends! We are the saviors of the Republic! Now and Forever!)
LonePalm, le Républicain du verre cassé (The Broken Glass Republican)
I still do.
I believe the 6,000 jobs are located around the globe including in the US.
Yep... can’t say I didn’t try to warn ‘em.
Payroll is the largest expense for 99 to 100% of businesses. when I hear liberal commentators or people I know asking “why don’t businesses just hire more people”, I shake my head. That is part of the reason that the lack of business experience in the obama administration is so troubling.
Hey Barry, your plan is working!
Newsweek = Fiction
Good!
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