Jobs axe swings hardest at New York workers
The true nature of transnational economics was revealed when the pharmaceutical giant confirmed it was making 10% of its workforce redundant.
The company says the sweeping changes will save it $1 billion (€760 million) a year.
With the sale of two plants, 545 of these jobs look set to be lost in the Cork region but other towns around the world were hit harder.
The company swung its axe deadliest at its home in New York city.
Almost 158 years after it started production in South Williamsburg, Brooklyn, its manufacturing plant will close with the loss of 600 jobs. Its sales division in the heart of the Big Apple is having its workforce cut by 20% and its site in Omaha, New England, is closing altogether.
The state of Michigan was left reeling by the company’s decision to slash 2,410 jobs from its base, where local media said the knock-on effects will make 10,000 people redundant.
It is closing research centres in Nagoya, Japan, and Amboise, France.
About 285 employees will go from its bases in Canada.
Similar to two sites in Cork, a production facility in Germany is also up for sale.
In Britain the company blamed the National Health Service’s decision to switch to low-cost drugs for the need to lay off 250 people.
In total the cutbacks will see 10,000 out of work.
Company chairman Jeffrey B Kindler said the cuts are necessary to keep Pfizer competitive.
“We are facing significant challenges, however, in a profoundly changing business environment.
“I believe we must fundamentally change the way we run our company to meet these challenges and to take advantage of the diverse and attractive opportunities that we see in the marketplace.”
These are not the first cutbacks made by Pfizer and since 2003 45 production plants have closed around the world.
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