Pfizer Axes 940 Jobs Amid: Pfizer has announced the discontinuation of its pharmaceutical sciences small molecule (PSSM) operations at the Sandwich site, impacting approximately 940 employees. The move is part of Pfizer’s broader cost-cutting initiative, driven by lower-than-expected sales of its COVID-19 vaccines and treatments.
The affected staff received brief notifications on Tuesday morning, and redundancy consultations are scheduled to occur over the next 45 days. It’s anticipated that staff will receive notice of their exit date in January. The job losses, totaling 500, predominantly affect scientist roles, although administrative positions are also being cut.
The PSSM unit plays a crucial role in manufacturing medicines for clinical trials and facilitating the scale-up production of new drugs. These operations are expected to be relocated to other Pfizer sites in Chennai, India, and Connecticut in the United States. Redundant staff at the Sandwich site will be involved in transition projects to these new locations.
Despite expectations of job cuts, the extent of the reduction caught many employees by surprise. Initially, there was an anticipation of a 20% to 30% reduction in the unit, rather than the complete discontinuation of PSSM operations at Sandwich.
Pfizer, in response to the move, stated that various areas of its global enterprise are undergoing changes to enhance efficiency and effectiveness. The company emphasized that these changes will be implemented gradually and will vary across different areas. More details about this global program are expected to be shared in the coming months as part of the full-year guidance for 2024.
Last month, Pfizer revised its revenue forecast downward by 13% and announced $3.5 billion in cuts to jobs and expenses. Despite this, previous years saw record revenue, primarily driven by the successful development of a COVID-19 vaccine in collaboration with German biotech company BioNTech.
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Our Reader’s Queries
Is Pfizer doing layoffs?
Pfizer is downsizing its Kalamazoo, Michigan manufacturing plant by almost 200 positions. Additionally, employees in Illinois, Colorado, and North Carolina have been laid off at various points throughout the year. The company’s layoffs have also affected workers in England and Ireland.
Is Pfizer layoffs confirmed as vaccine manufacturer drives for cost savings?
Pfizer has announced further layoffs due to the company’s struggle with poor Covid sales. The New Jersey facility will be affected, with staff either being relocated or losing their jobs. The exact number of employees impacted has not yet been disclosed.
How many countries does Pfizer operate in?
Pfizer, a top player in the manufacturing and supply industry, delivers over 50 billion doses of medicines and vaccines to 181 countries each year. This translates to approximately 1.3 billion patients, which is equivalent to 1 out of every 6 people on the planet. Their commitment to providing healthcare solutions is unparalleled, making them a trusted name in the industry.