Pfizer to cut jobs in New York

pharmafile | May 11, 2010 | News story | Sales and Marketing |ย ย Pfizer, job cutsย 

Pfizer is reportedly planning to cut or relocate up to 1,400 jobs in New York in its on-going restructuring programme.

According to the New York Times, the pharma company said it would maintain its headquarters in New York, where it was founded in 1849, but will sell its office tower at 685 Third Avenue.

Pfizer has already shed around 2,000 positions, but still has some 4,400 employees in the city. As part of an industry-wide move, Pfizer is hoping its restructuring programme will help lower costs by roughly $1 billion per year.

Joan Campion, a spokeswoman for Pfizer, told the New York Times that she was not sure of the exact numbers of either the cuts that would be made or of employees that would be relocated.

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She was also reported as saying that the company had spoken to the city about repaying tax benefits received in 2003 to encourage the firm to stay in New York.

 

Ben Adams

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