Pfizer to Cut 6,000 Jobs Worldwide

The job losses come as part of Pfizer's plans to reshape it worldwide plant network to create following Pfizer's take-over of Wyeth.

This first phase of Pfizer’s previously announced Plant Network Strategy includes recommendations to close eight manufacturing sites in Ireland, Puerto Rico, and the United States by the end of 2015, as well as to reduce operations at six other plants in Germany, Ireland, Puerto Rico, the United Kingdom, and the United States.

Pfizer says that the planned reductions will increase manufacturing efficiency and lower costs by more effectively using resources and technology, improving plant processes, eliminating excess capacity, and better aligning production with market demand.

The changes will result in a global reduction of approximately 6,000 jobs over the next few years.

Pfizer said that product transfers will expand the roles of a number of plants in Pfizer’s manufacturing network.

“The restructuring of our global plant network is critical to our efforts to remain competitive so that we can continue to meet patient needs and expand the access and affordability of our medicines,” said Pfizer Global Manufacturing President Nat Ricciardi.

“Nevertheless, today’s announcement is very difficult to make because of its impact on our colleagues,” Mr. Ricciardi added.

“We have a tremendous global workforce and some of the best manufacturing facilities in the industry. But we must continue to adjust to the fast-changing and extremely competitive environment in which we operate. That means realigning our network and reducing our manufacturing capacity so that we can position Pfizer for the next phase of growth across biopharmaceuticals and our diversified business portfolio.”

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