Pfizer’s R&D Employees Brace For Layoffs
5 CommentsBy Ed Silverman // October 21st, 2008 // 8:03 am
The pending changes at the big drugmaker have been telegraphed sufficiently in recent weeks - some R&D units will disappear as research is eliminated in heart disease and obesity, among other subjects. And so employees are starting to learn some of the details, which may include spinning off some groups. In any event, meetings are now under way to provide some insight for the anxious
Specifics, such as the number of potential layoffs or when further announcements will be made, are not being disseminated just yet. But sources say job losses are expected to be ’significant,’ although we are not clear what means; many, if not all, positions will be shuffled or eliminated, suggesting most will have a new assignment; selection of candidates for new reporting lines will be done by managers; and specialized committees will use a single-score system, which we’re told translates into each employee getting a number based on performance, skill and attitude.
It won’t be long, however, before more info emerges, because most employees will learn their fate by the end of the year. The revamped organization will be operational in 2009. A Pfizer spokesman declined to comment on what he termed “speculation,” and reiterated an earlier remark that “we’ll continue to realign the company to better serve our customers.”
ExPFE
My friends in Groton Research and IT have been told they will know their fates in “2 weeks”.
INSIDER
I have learned to that Pfizer will be laying off all 30,000 Contractors as of 12.31.08. All will be offered permanant positions at below market rate!
Just finished a con-call with Procurement and it is 100% true. It has not hit the wire yet !
Christopher
If accurate does that mean that Pfizer will lay off (a minimum of) 30,000 FTEs to make way for these contractors or that they will be added to headcount?
another ex-pharma
My company (another top-10 pharma) is rumored to be scheduling major layoffs for Oct 28th. We’ve now heard the same thing from multiple divisions and all the conference rooms are booked for that day….
Pharma Monkey
We are all waiting with baited breath to hear about the pay cuts for the senior management. It is only fair - after all, they’re laying off people due to the financial stagnancy of the company.
Do it Jeff! The employees are 100% behind you on this initiative!