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Pfizer to reconfigure global plants; cut 6000 jobs
by Jaspreet Virk - May 19, 2010 - comments
The job cuts, which will be undertaken by the drug maker, are a part of the more than 19,000 jobs that Pfizer said it would slash after the acquisition of its rival Wyeth.
In a bid to “increase manufacturing efficiency and cut down costs,” Pfizer Inc., one of the world’s biggest research-based pharmaceutical companies, will be cutting approximately 6000 jobs over the next several years.
As a part of the restructuring programme, the New York based company will be ceasing work at eight manufacturing sites at Ireland, Puerto Rico, and the United States, and will reduce workforce at six plants in Germany, Ireland, Puerto Rico, the United Kingdom, and the United States.
Explaining the importance of reconfiguring its global plant network, Pfizer Global Manufacturing President Nat Ricciardi, stated that “this is critical to our efforts to remain competitive so that we can continue to meet patient needs and expand the access and affordability of our medicines.”
Ceasing operations
The job cuts, which will be undertaken by the drug maker, are a part of the more than 19,000 jobs that Pfizer said it would slash after the acquisition of its rival Wyeth.
Pfizer had acquired Wyeth early last year in a deal worth $68 billion.
Moving forward with its cost cutting initiative, Pfizer will discontinue operations at plants that manufacture tablets and capsules in Caguas in Puerto Rico, Loughbeg in Ireland, and Rouses Point in New York, United States. The pharmaceutical solid-dose manufacturing unit at Guayama, Puerto Rico, will also be shutdown.
The workers likely to be laid off are too many but analysts believe that majority of them will be able to find new jobs due to their specialist skills.
Even the aseptic facilities, manufacturing sterile injectable medicines, in Dublin, Ireland; and Carolina, Puerto Rico will be closed.
Other plants, which will face the axe, are units in Shanbally, Ireland, and biotechnology manufacturing plant in Pearl River, New York.
Apart from shutting down plants at various sites, the restructuring plans also include certain alterations at various plants. These are aimed at capitalizing on productivity improvements, and new technology.
Will the axed workers find jobs?
The workers likely to be laid off are too many but analysts believe that majority of them will be able to find new jobs due to their specialist skills.
Half of the work force at the company includes graduates with some specialization in pharmaceutical and biological research and development. Others include workers with highly technical skills.
Sinead Johnson of Recruit Ireland, a firm that helps jobseekers with a comprehensive database of quality jobs, believes that Pfizers workers have skills, which are in great demand in Ireland. The experience of the employees “will huge asset as they seek new companies in the life-science sector to take over the facilities."
Though the prospects of employment might seem bright in Ireland, they are quite bleak in Puerto Rico, which is currently in its fourth year of recession.
According to the Puerto Rico Labor Department, the economic slowdown has reduced the Caribbean island economy’s manufacturing sector from 157,000 jobs to 90,400.
To assuage the growing insecurities about the possible jobs loss among the workers, Pfizer said in a statement, “We will provide support to our colleagues who lose their jobs so that their transition to new careers is as smooth as possible.”