Pfizer Inc. (NYSE:PFE) employees concerned about their jobs may have a better idea of where they stand. The pharmaceutical giant on Monday announced plans to consolidate 20 R&D centers into five central hubs as part of its integration of Wyeth.
This Pfizer
press release provides a complete list of facilities to be shut down, but they include research centers in Princeton, N.J., Plattsburgh, N.Y., Research Triangle Park, N.C., and New London, Conn. The R&D hubs will be located in Sandwich, U.K., Cambridge, Mass., Pearl River, N.Y., La Jolla, Calif, and Groton Conn., and will be organized around biotherapeutics, pharmatherapeutics and vaccines.
Pfizer said the new organizational structure will "result in staff reductions." It didn't say how many, but total job loss estimates since the $68 billion merger was announced have run as high as 19,000 as Pfizer looks to save $4 billion.
This report in the Hartford Courant said most of the 1,400 employees from the closing New London facility will have the opportunity to transfer to the Groton R&D hub, which will be Pfizer's largest. Thousands of other Pfizer employees are no doubt wondering how well their own jobs fit into the newly announced global R&D structure. -
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