Two waves of cuts in store
January 26, 2009 – 5:23 pm by Steven NilesSo, the numbers are in. CNN reports that Pfizer is planning two waves of job cuts for 2009, first cutting 10% of its 81,900 staff. The second round of cuts will take place after the merger with Wyeth is completed in the third or fourth quarter. This is expected to eliminate about 18,000 more jobs, or 15% of the combined company’s work force. According to CNN, in all, Pfizer is planning about 26,000 new job cuts and will close five manufacturing plants.
