Are Pfizer / Wyeth cutting jobs?

dixiefly

No smoke without even a little fire. Lets hope that the jobs cuts if any are small. The plants involved are blue chip.

http://www.rte.ie/news/2010/0518/pfizer.html


Pfizer set to announce restructuring plan
Tuesday, 18 May 2010 11:08
Pfizer, Ireland's biggest multinational employer, is to make an announcement this afternoon regarding restructuring its operation.

Pfizer employs 5,000 people across 13 sites involved in manufacturing, research and development across the country.

Workers at Pfizer have been summoned to a meeting this afternoon amid speculation about potential jobs cuts.

AdvertisementThe announcement is expected at 2pm Irish time when the New York Stock Exchange opens.

It is understood that there is no immediate threat of job cuts.

The news comes after last year's announcement that Pfizer was to merge with another multinational pharmaceutical company, Wyeth, which also had significant operations in Ireland employing 3,000.

That takeover was worth $68bn.

Wyeth has 3,000 staff in Dublin at its biotechnology facility in Clondalkin, one of the biggest in Europe, and in Limerick and Kildare at its manufacturing facilities.

printable version
share this

Audio & Video
Morning Ireland: Christopher McKevitt reports that today's announcement of restructuring arises from last year's merger with Wyeth
Story from RTÉ News:
http://www.rte.ie/news/2010/0518/pfizer.html

dudara

It's entirely possible given the merger. I suppose we'll just wait and see.

bleg

There will be job cuts, conference is at 2.30

the ostrich

up to 1000 jobs will go nationwide.

fastrac

785 according to sky news

Dubh Geannain

800 to go according to today FM.

Shanbally and lough beg manafacturing to be shut.

aidanodr

I know its bad news, but relative to what could have happened we dodged a big bullet here in Cork and Ireland. 5000 employed country wide - 800 to go. 300 to go in Cork?

Alot of that may go through retirement and voluntary? Plus it is over a wide time - up til 2015.

Im trying to see the up side in the down side ...
Aidan

dixiefly

785 acc to rte.ie

That is bad news in that it is a high end area that the country would be hoping to develop jobs in. That said, I am not close to their business and the Pharma business does experience ups and downs acc to the stage of life-cyle of products.

This is probably more to do with efficiencies following restructuring.

---

Ireland
785 jobs to go at Pfizer
Tuesday, 18 May 2010 14:03
Pharmaceutical giant Pfizer has announced plans to lay-off up to 785 workers in the country.

Pfizer, Ireland's biggest multinational employer, made the announcement this afternoon as part of a restructuring of its operation.

The company employs 5,000 people across 13 sites involved in manufacturing, research and development in Ireland.

AdvertisementWorkers at Pfizer were summoned to a meeting this afternoon amid speculation about potential jobs cuts.

The news comes after last year's announcement that Pfizer was to merge with another multinational pharmaceutical company, Wyeth, which also had significant operations in Ireland employing 3,000.

That takeover was worth $68bn (€55bn).

Wyeth has 3,000 staff in Dublin at its biotechnology facility in Clondalkin, one of the biggest in Europe, and in Limerick and Kildare at its manufacturing facilities.

printable version
share this

Audio & Video
One News: Paschal Sheehy, Southern Editor, reports that Pfizer is to make an annoucement this afternoon regarding restructuring its operation in Ireland
Morning Ireland: Christopher McKevitt reports that today's announcement of restructuring arises from last year's merger with Wyeth
Story from RTÉ News:
http://www.rte.ie/news/2010/0518/pfizer.html

Skerries

they just couldn't keep it up

seamus

Probably not altogether suprising for the staff given the merger. Given the timescale involved, this will probably be mostly retirements and redundancies. The jobs market is quite boyant on the technology side, so hopefully most of these people will spend little, if any, time in the dole queues.

dan_d

Hopefully. Cross our fingers. It's outshone the good news that Airtricity are creating 200 jobs.

dobsdave

seamus wrote: »

......... The jobs market is quite boyant on the technology side, .............

Tell me more?

seamus

dobsdave wrote: »

Tell me more?

I.T. anyway, everyone's reporting that the number of jobs available is higher than other sectors and rising.

anotherlostie

Pharma sector is shrinking in Ireland. There are very few capital development projects, meaning most of the contract providers aren't busy. People aren't moving and companies aren't hiring (or are shedding staff). Wyeth spent €100m in the last few years on two building projects in Newbridge and Pfizer have announced they are closing them down.

bleg

anotherlostie wrote: »

Pharma sector is shrinking in Ireland. There are very few capital development projects, meaning most of the contract providers aren't busy. People aren't moving and companies aren't hiring (or are shedding staff). Wyeth spent €100m in the last few years on two building projects in Newbridge and Pfizer have announced they are closing them down.

Are they really closing down the new tabletting suites at Newbridge? I thought it would have been the older parts of the plant to go.

eoinf

Newbridge has been shedding staff for a long time. The complete closure of the plant was rumoured for some time, however of course this cutting of ~300 staff will of course be difficult to take.

The Grange Castle Pfizer site is going to expand at an alarming rate over the next 3-5 years which indirectly will create 100's of jobs.

some of these company's became very bloated during the boom years , it a natural shrinking considering the Wyeth take-over last year.

i think as a nation we should count our self lucky , it could have been far far worse.

Macker1

eoinf wrote: »

Newbridge has been shedding staff for a long time. The complete closure of the plant was rumoured for some time, however of course this cutting of ~300 staff will of course be difficult to take.

The Grange Castle Pfizer site is going to expand at an alarming rate over the next 3-5 years which indirectly will create 100's of jobs.

some of these company's became very bloated during the boom years , it a natural shrinking considering the Wyeth take-over last year.

i think as a nation we should count our self lucky , it could have been far far worse.

Where did you hear about the expansion ????

bleg

I think it was mentioned in one of the press releases. But yea, I don't think that plant is at full capacity yet and there will be more safe long term jobs.

eoinf

Macker1 wrote: »

Where did you hear about the expansion ????

it was announced on-site yesterday.

site is to take on capacity from closures elsewhere (America).

some are to start this year. completion by 2013.

others to start in 2012.