During Pfizer's right-sizing push after the COVID-19 pandemic, the company's multibillion-dollar cost-cutting campaign has affected its Ireland operations in several ways. Now, more employees in the country are set to lose their jobs by the end of the year.
Pfizer is planning more than 100 job cuts at its plant in Ringaskiddy later this year, according to The Irish Examiner and other local publications.
Pfizer "continuously evaluates its manufacturing network to ensure capacity is effectively utilized based on patient needs, projected product demand, and long-term business objectives," a spokesperson told Fierce.
As a result, the company has "made the difficult decision to propose reductions in the number of people supporting manufacturing operations in Ringaskiddy, aligned with anticipated reduction in volume requirements and changes to the Small Molecule operations at the site," the spokesperson added.
In response, a local union is working to meet with Pfizer management and officials in a bid to preserve jobs and support affected workers, according to BreakingNews.ie.
Pfizer set up shop in Ringaskiddy way back in 1969, according to the company's website. The site employs more than 600 people and produces bulk pharmaceuticals for exports, including for new launches, the site says.
The Ringaskiddy cuts follow years of layoffs around the globe for the drugmaker. Last summer, Pfizer said it was on track to realize $7.2 billion in cumulative savings by the end of 2027 between cost-cutting plans implemented in recent years. All of this came after the company aggressively hired earlier in the decade—and spent part of its COVID windfall on biotech acquisitions.
In Ireland, the reorganization has meant the company reduced its headcount at a plant in Newbridge in 2023 and relocated some employees weeks later. The following year, the company revealed plans to lay off around 200 employees in its manufacturing operations in the country.
Overall, the company has reduced its global headcount by more than 10,000 people in recent years, annual filings show.