More on Pfizer's Layoffs

Pfizer's made an announcement about the dimensions of its research cuts - 5 to 8%, which means about 500 to 800 scientists this year. These are (for the most part, I presume) the "not in our current research areas" people from the company's recent re-work of their therapeutic areas.

What I don't know is if they're finally actually telling these people anything. Now, many biologists with a specialization in an abandoned therapeutic area knew instantly that they had to seek a new job when the earlier news came out. But there are plenty of chemists on the block, too. Chemists are sort of vaguely associated with therapeutic areas, as compared with biologists, so that makes it much harder to guess who's going to go.

So, is Pfizer telling anyone today? Or is this just another bizarre chance to whistle the blade over everyone's heads?

Update: Yep, it's today, going on right now.

Comments

[Lars39:]

Pfizer should have shut down the entire R&D operation 10 years ago, except for acquisition of products and small biotech companies.

Jan 13 06:02 PM

[Lin:]

Re

My sister informed me several months ago that Merck pharmacuticals was ' outsourcing " it's entire US drug sales force to India . These firms have been " blogging " the MD's with info for some time now . Truth is Docs do not have time to meet with sales Reps any more . They have to see patients like " cattle . in + out as their reimbursements are now pitiful . The Government now plans to cut MD's who see medicaire patients fees by 21 % in 2010 ! Many Doc's will leave . Our health care system will be like " that of a 3rd world country ". Why has NO ONE cut the payments to the insurance companies ? tHEY ARE THE ONES WHO HAVE DESTROYED our healthcare system . The US longevity rate is now # 35 of all nations . Can you imagine what it will fall to ?

LIN RN

Jan 13 08:27 PM

[stockguru32:]

more layoffs to come especially with deflation growing, see here crashmarketstocks.com

Jan 13 11:27 PM

[Pfizer Layo...:]

I've had a hard time finding out whether the Pfizer layoffs actually were handed down yesterday, so I've put together a list of the facts we know thus far and included some insider info about how Pfizer's method of picking which scientists to lay off. There are some rumors about heavy layoffs later this month, but so far it looks like 800 researchers, 500 sales reps in Italy, and 1,000 sales reps in France.

Pfizer Layoffs 2009: New Details Emerge and Rumors Abound
www.thedailyanchor.com.../

Jan 14 11:38 AM