Hinting at layoffs, Pfizer extends severance

One hint that Pfizer layoffs [1] will only continue: The company extended its severance-package program, which was due to expire at year's end, through mid-2009, because the drugmaker couldn't treat new layoffs differently from those cut previously. And according to sources close to the action, those layoffs probably would include a large number of sales reps [2].

Meanwhile, Pfizer is also considering spinning off some of the research units that it put on the "eliminate [3]" list two weeks ago, Pharmalot reports. Plus, the company might buy a "brand-name biotech." As you know, almost every time a biotech appears to be on the block, Pfizer is rumored to be among the pharma firms kicking tires. Which target might actually prove out is a mystery, though the gossip says Pfizer might take another look at Biogen Idec.

A new round of job cuts would add to the 10,000 [4] Pfizer announced in January 2007 as part of a major restructuring program that also included plant closures and research-center shutdowns.

- read the post [5] at Pharmalot

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Pfizer layoff talk boosts stock [1]
Pfizer reorganizes, leaves Ann Arbor [6]
Pfizer unveils realignment of global ops [7]
Pfizer drops heart research in R&D revamp [3]