Pfizer to ax 1,100 jobs
pic: earns pfizer(ap exchange)GROTON, Conn.(AP)–Pfizer Inc. says it will lay off more than 1,000 employees at its Groton research and development site as the drug giant cuts costs.
Spokesman Mackay Jimeson(JIM’-eh-sin)said Pfizer’s announcement Tuesday was part of its strategy to focus on neuroscience, oncology and other areas and boost productivity. Research and development costs will be cut by up to$2 billion by 2012.
The Groton work force of 4,500 will be cut to about 3,400 in the next 18 months. Jimeson says it will still be Pfizer’s largest research and development site.
Jimeson also confirmed that Pfizer will quit a research and development center in southern England in the next 18 months to two years.