Pfizer’s newest round of workforce cuts may be getting an early start.
Over the past few days, local news outlets have flagged layoffs at three of Pfizer's largest U.S. manufacturing plants. First up, the New York-headquartered pharma was reported to be cutting around 150 jobs from its biggest facility in Portage, Michigan, according to publications like MILive.
The company is also laying off an undisclosed number of employees at two North Carolina facilities: the Rocky Mount site, which manufactures sterile injectables, and Sanford, where Pfizer produces biologics, including gene therapies, Triangle Business Journal reported Tuesday.
News of U.S. layoffs comes weeks after Italian trade unions flagged a 330-person job cut at Pfizer’s plant in Sicily, an estimated 60% reduction for the 550-person workforce.
Pfizer confirmed the layoffs to Fierce, but declined to comment on the exact number of employees affected or when the layoffs would go into effect.
“Pfizer regularly evaluates our manufacturing network to ensure capacity is effectively utilized based on patient needs, projected product demand, and long-term business objectives,” according to a statement shared with Fierce. “These decisions are not a reflection on the performance of our colleagues but is in alignment with our site capacity designs to meet the needs of the business."
The personnel changes likely fall under the larger $2.5 billion cost-cutting plan unveiled in Pfizer’s second quarter earnings report. Pfizer predicted that the savings strategies—across manufacturing optimization and cost realignment—would go into effect at the first of the year and continue through 2029, so it’s possible these layoffs are a jumpstart on that process.
Pfizer has been in efficiency mode since it acquired Seagen for $43 billion in 2023. The merger increased Pfizer’s employee count to 88,000, but subsequent job cuts have brought that number down to roughly 75,000 employees. The latest $2.5 billion cost reduction is designed to bring the company’s total cash trimmings to $9.7 billion by 2029.
On the broader topic of layoffs, Pfizer told Fierce it “does not take these changes lightly. Our colleagues are our top priority, and we are committed to keeping them informed throughout the process and providing them with support services.”