Pfizer to Shed 500 Jobs at England Site As Cost-Cutting Ramps up

Seekingalpha2023-11-15

Pfizer (NYSE:PFE) plans to lay off 500 employees at a production plant in Sandwich, Kent, U.K., amid a company-wide cost-cutting program, Sky News reported Tuesday.The move comes as the U.S. pharma ...

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Their jobs are reportedly moving to the U.S. and India.\"Various areas of Pfizer's global enterprise are making changes to operate more efficiently and effectively,\" a company spokesperson said, adding that \"these changes will be implemented on a rolling basis and will differ (from) area to area.\"\"More information around this global program will be shared over the coming months and as part of the full-year guidance for 2024,\" the company said.With its Q3 2023 results last month, New York-based Pfizer (PFE) announced a $3.5B cost reduction program. 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