Pfizer - Top 10 Layoffs of 2010

Company: Pfizer
Layoffs: 8,480

Scoop: After two years topping our annual layoffs lists, Pfizer has dropped to number two with over 10,000 fewer job cuts announced this year. It announced the total 8,480 layoffs in relatively smaller batches: 1,080 in two January announcements, and 7,400 in separate May releases.

After merging with Wyeth, the company found redundancies as it accumulated Wyeth's three dozen sites into the fold with its previous 40. "We have a complex network of manufacturing plants," said President of Manufacturing Nat Ricciardi, "with excess capacity that is not good for costs." And Pfizer found places to cut in New Jersey, Pennsylvania, New York, Puerto Rico, Ireland, the U.K. and Germany. The process isn't nearly completed yet; the layoffs will take effect over the next five years.

Pfizer - Top 10 Layoffs of 2010

Suggested Articles

It’s been a rocky road for BMS’ immuno-oncology duo in previously untreated lung cancer, but a new addition to the regimen might hold the ticket.

Novartis’ Zolgensma launch has been anything but boring: First a record price, then a data scandal and now a manufacturing-related delay in Europe.

As CEO Paul Hudson focuses Sanofi's R&D program on immuno-oncology and gene therapies, Sanofi is readying a vaccine plant to make viral vectors.