Pfizer to cut 6,000 jobs worldwide

Pharmaceuticals giant Pfizer is to cut 6,000 jobs, including 800 in the Republic of Ireland and 90 at its medicine packaging plant in Havant, Hampshire.

It plans to close three of its five plants in Ireland by the end of 2015, axeing 800 employees, with 90 going in England as well, the Times has reported.

The massive cull was triggered by the integration of oral contraceptive manufacturer Wyeth, which Pfizer acquired last October for $67bn (£46.7bn). According to the Times, about 20,000 jobs are expected to go from the combined total of 116,000 employees at the two companies.

The plants earmarked for closure make a variety of medicines including pills, injectables, biotech drugs and consumer healthcare products. Pfizer hopes to make cost savings of up to $5bn (£3.4bn) by 2012.

Nat Ricciardi, Pfizer’s global manufacturing president, said: “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. We have a complex network of manufacturing plants with excess capacity. That is not good for costs.”

Comments are closed.