Mass Layoff in Pfizer

6541

News coming of some serious job losses in the pipe line, anyone have any more info?

NuckingFacker

They're talking about stiff cuts at the Viagra plant anyway.

dxhound2005

6541 wrote: »

News coming of some serious job losses in the pipe line, anyone have any more info?

I read this news on the internet.

News coming of some serious job losses

Fr_Dougal

Has been on the cards for a while, patents expire.

Femme_Fatale

lol pipe line.

steddyeddy

Not just Pfizer unfortunately but a lot of biomedical companies and pharm companies are thinking of shutting down. A lot of this will be based on the the loss of exclusive rights on patents. Eg other companies can make generic drugs for cheaper.

Hitchens

is it pronounced 'Piffizer' ?

Hitchens

Fr_Dougal wrote: »

, patents expire.

so do patients sometimes

keith16

Never a good time for job losses but this is a particularly shitty time of year for it

DarkJager

It's going to be an announcement for the new Viagra eyedrops - they'll do nothing for your sex life but they'll make you look hard.

For Forks Sake

Hitchens wrote: »

is it pronounced 'Piffizer' ?

Fyzer

NuckingFacker

steddyeddy wrote: »

Not just Pfizer unfortunately but a lot of biomedical companies and pharm companies are thinking of shutting down. A lot of this will be based on the the loss of exclusive rights on patents. Eg other companies can make generic drugs for cheaper.

B0llox, with respect. A lot of this will be due to grants being curtailed, international pressure re tax planning and the fact there's greener fields. The IDA bought a pup - a glossy, shiny pup they threw money at, to the detriment of indiginous industries, mainly as they have no foresight and have their heads up their holes. Mobile plant, big world, new fields to be mown. There's always someone cheaper offering more. The IDA bet on the wrong horse, IMO. And I don't blame the MNCs, that's what they do for a living. I have scant regard for the IDA putting all their eggs into the one basket though. That was always the easier more glamorous option though. Fields and small Irish factories just don't have the same bling factor.

SimonQuinlank

Meeting tomorrow morning at 8.30am for 700 staff in Newbridge plant.

Pfizer aren't saying what its about though.Doubt very much its good news.

http://www.rte.ie/news/2013/1203/490738-pfizer-meeting/

dirtyden

6541 wrote: »

News coming of some serious job losses in the pipe line, anyone have any more info?

Where did you hear this?

I work in the industry but had not heard this and don't see it anywhere. Did you hear what sites the cuts may be at?

Hitchens

http://www.rte.ie/news/business/2013/0711/461797-pfizer-to-invest-130m-in-cork-and-dublin-plants/

from an RTE report in June 2013

Grimreaper666

I'm not surprised to be honest. What i can't understand is how more businesses haven't folded already. Nobody seems to have money and the few that have don't want to spend it!!

kneemos

SimonQuinlank wrote: »

Meeting tomorrow morning at 8.30am for 700 staff in Newbridge plant.

Pfizer aren't saying what its about though.Doubt very much its good news.

If the staff don't know yet I doubt anyone else does.

KwackerJack

Anyone ever see that Guy outside the Pfizer plant in GrangeCastle?? Just has a placard that's said

'I lost my job over a 100 million Euro project'

Is Pfizer in GrangeCastle affected?

ChippingSodbury

B0llox, with respect. A lot of this will be due to grants being curtailed, international pressure re tax planning and the fact there's greener fields. The IDA bought a pup - a glossy, shiny pup they threw money at, to the detriment of indiginous industries, mainly as they have no foresight and have their heads up their holes. Mobile plant, big world, new fields to be mown. There's always someone cheaper offering more. The IDA bet on the wrong horse, IMO. And I don't blame the MNCs, that's what they do for a living. I have scant regard for the IDA putting all their eggs into the one basket though. That was always the easier more glamorous option though. Fields and small Irish factories just don't have the same bling factor.

I don't agree. When you look at the amount of money invested here in mid/ large pharma projects, it would make you eyes water. A lot of the initial investment was construction labour, they support a shed-load of local indigenous businesses on an ongoing basis e.g. engineering/ instrumentation/ calibration/ validation/ gases/ solvents/ waste management etc. etc. etc. They also pay good wages so even if they did pull out, they'll have far outpaid what they would have receivedin grant aid in the first place.
Incidentally, what "horse" would you have bet on given the chance?

I was talking to a guy from Pfizer in Newbridge today and the announcement is before lunch tomorrow: his bet was maybe 150 to go on that site

dxhound2005

Independent is saying a possible 150 in Kildare as well. When I saw the thread title Mass Layoffs I thought that must mean thousands.

http://www.independent.ie/business/irish/fears-grow-for-150-pfizer-jobs-in-kildare-29806948.html

Red Crow

NuckingFacker wrote: »

B0llox, with respect. A lot of this will be due to grants being curtailed, international pressure re tax planning and the fact there's greener fields. The IDA bought a pup - a glossy, shiny pup they threw money at, to the detriment of indiginous industries, mainly as they have no foresight and have their heads up their holes. Mobile plant, big world, new fields to be mown. There's always someone cheaper offering more. The IDA bet on the wrong horse, IMO. And I don't blame the MNCs, that's what they do for a living. I have scant regard for the IDA putting all their eggs into the one basket though. That was always the easier more glamorous option though. Fields and small Irish factories just don't have the same bling factor.

The IDA are a shambles. Whatever about encouraging these companies to come here with various tax incentives, grants, relief schemes etc. everything in their power should of been done to keep these companies here. We will now have more people on the dole who are unemployable due to the decline in the pharmaceutical sector, we will now have hundreds of secondary jobs lost through transport, IT etc and this will have a negative affect on this country overall.

Another rubbish government full of useless polices.

allthedoyles

Generic option is bound to affect jobs - I think the new year is going to bring many job losses in all sectors .

The writing is on the wall.....................

dirtyden

NuckingFacker wrote: »

B0llox, with respect. A lot of this will be due to grants being curtailed, international pressure re tax planning and the fact there's greener fields. The IDA bought a pup - a glossy, shiny pup they threw money at, to the detriment of indiginous industries, mainly as they have no foresight and have their heads up their holes. Mobile plant, big world, new fields to be mown. There's always someone cheaper offering more. The IDA bet on the wrong horse, IMO. And I don't blame the MNCs, that's what they do for a living. I have scant regard for the IDA putting all their eggs into the one basket though. That was always the easier more glamorous option though. Fields and small Irish factories just don't have the same bling factor.

If you believe Pfizer make decisions based on an IDA grant you know very little about the industry. Pfizer will be losing billions per year in revenue due to the loss of patent exclusivity for Lipitor. Cuts are significant and worldwide. The pharma industry has become a more competitive environment for the pharma giants and they are having to change accordingly. It is unfortunate for those of us who work in the industry but I don't think we can hold the IDA responsible.

steddyeddy

NuckingFacker wrote: »

B0llox, with respect. A lot of this will be due to grants being curtailed, international pressure re tax planning and the fact there's greener fields. The IDA bought a pup - a glossy, shiny pup they threw money at, to the detriment of indiginous industries, mainly as they have no foresight and have their heads up their holes. Mobile plant, big world, new fields to be mown. There's always someone cheaper offering more. The IDA bet on the wrong horse, IMO. And I don't blame the MNCs, that's what they do for a living. I have scant regard for the IDA putting all their eggs into the one basket though. That was always the easier more glamorous option though. Fields and small Irish factories just don't have the same bling factor.

Pfizer pour billions into getting a drug onto the market. If their exclusive use of that chemical formula is lost then they have lost billions. This can happen through loss of a patent or the development of a similar drug which doesn't infringe on the patent but has a similar physiological effect. IDA grants are nothing to these people!

Phoebas

Red Crow wrote: »

The IDA are a shambles. Whatever about encouraging these companies to come here with various tax incentives, grants, relief schemes etc. everything in their power should of been done to keep these companies here. We will now have more people on the dole who are unemployable due to the decline in the pharmaceutical sector, we will now have hundreds of secondary jobs lost through transport, IT etc and this will have a negative affect on this country overall.

Another rubbish government full of useless polices.

Pfizer aren't moving jobs to cheaper markets. They've been cutting jobs worldwide for a good while now.
What Government policies do you think would save these jobs?

MadsL

Pharmageddon has been forecast for some time now.

Sky King

MadsL wrote: »

Pharmageddon has been forecast for some time now.

Have you been waiting for some time now to post that word?

Red Crow

Phoebas wrote: »

Pfizer aren't moving jobs to cheaper markets. They've been cutting jobs worldwide for a good while now.
What Government policies do you think would save these jobs?

Is that a serious question?

Phoebas

Red Crow wrote: »

Is that a serious question?

Yep.

micosoft

NuckingFacker wrote: »

Originally Posted by NuckingFacker View Post
B0llox, with respect. A lot of this will be due to grants being curtailed, international pressure re tax planning and the fact there's greener fields. The IDA bought a pup - a glossy, shiny pup they threw money at, to the detriment of indiginous industries, mainly as they have no foresight and have their heads up their holes. Mobile plant, big world, new fields to be mown. There's always someone cheaper offering more. The IDA bet on the wrong horse, IMO. And I don't blame the MNCs, that's what they do for a living. I have scant regard for the IDA putting all their eggs into the one basket though. That was always the easier more glamorous option though. Fields and small Irish factories just don't have the same bling factor.

Red Crow wrote: »

The IDA are a shambles. Whatever about encouraging these companies to come here with various tax incentives, grants, relief schemes etc. everything in their power should of been done to keep these companies here. We will now have more people on the dole who are unemployable due to the decline in the pharmaceutical sector, we will now have hundreds of secondary jobs lost through transport, IT etc and this will have a negative affect on this country overall.

Another rubbish government full of useless polices.

Totally agree. I mean, the pharma trade only employs 24,000 people on excellent pay and conditions in this country, export a mere €55.1 Billion per annum and only invested a paltry €7 Billion in infrastructure over the past 10 years. It's pathetic! Instead of the 10,000%+ return we should have invested on harder less glamorous options and the "right horse" like a 100 race accumulator, some magic beans and a trip to Las Vegas. Dumbos.

And what's more, the IDA/Government can't make patents last longer to keep those 150 jobs? Why can't they demand the world make patents last longer? Force people to only buy medicines made in Ireland? Idiots. Why does Barry O'Leary and the silly government not get this?

Pharmageddon was a great movie!

Hootanany

NuckingFacker wrote: »

B0llox, with respect. A lot of this will be due to grants being curtailed, international pressure re tax planning and the fact there's greener fields. The IDA bought a pup - a glossy, shiny pup they threw money at, to the detriment of indiginous industries, mainly as they have no foresight and have their heads up their holes. Mobile plant, big world, new fields to be mown. There's always someone cheaper offering more. The IDA bet on the wrong horse, IMO. And I don't blame the MNCs, that's what they do for a living. I have scant regard for the IDA putting all their eggs into the one basket though. That was always the easier more glamorous option though. Fields and small Irish factories just don't have the same bling factor.

That's a lot of baskets.

steddyeddy

micosoft wrote: »

Totally agree. I mean, the pharma trade only employs 24,000 people on excellent pay and conditions in this country, export a mere €55.1 Billion per annum and only invested a paltry €7 Billion in infrastructure over the past 10 years. It's pathetic! Instead of the 10,000%+ return we should have invested on harder less glamorous options and the "right horse" like a 100 race accumulator, some magic beans and a trip to Las Vegas. Dumbos.

And what's more, the IDA/Government can't make patents last longer to keep those 150 jobs? Why can't they demand the world make patents last longer? Force people to only buy medicines made in Ireland? Idiots. Why does Barry O'Leary and the silly government not get this?

Pharmageddon was a great movie!

In a short answer noooooooooooooooooooooo!

hansfrei

http://www.reuters.com/article/idUSTRE81610Z20120207?irpc=932


Regulate shadow banking. Its too easy to make big money. J&J aren't too bothered with their medical business, probably cash rich Pfizer couldn't be arsed working either.

Red Crow

Phoebas wrote: »

Pfizer aren't moving jobs to cheaper markets. They've been cutting jobs worldwide for a good while now.
What Government policies do you think would save these jobs?

Phoebas wrote: »

Yep.

Let the sinking ship sink. That's the current government policy and you're saying that they can't offer an initiative, a relief, a grant?

Short-sightedness is the problem for the government. These people are going to be very hard to employee as the sector is in decline at the minute. These jobs most definitely can be saved. Maybe not them all but I think the IDA and FG/Lab are cowards in situations like this and so were their predecessors. If we hard strong leadership and Ireland was growing internally instead of riding on an external wave then these MNC could see more viable alternatives to reduce labour cost.

A tax break or some form of relief for companies that are struggling isn't a hard thing to do. Even if it keeps the employees there for another 2-3 years then at least it gives us the chance to get a broader outlook for the sector while keeping people out of dole queues.

keith16

Red Crow wrote: »

Let the sinking ship sink. That's the current government policy and you're saying that they can't offer an initiative, a relief, a grant?

Short-sightedness is the problem for the government. These people are going to be very hard to employee as the sector is in decline at the minute. These jobs most definitely can be saved. Maybe not them all but I think the IDA and FG/Lab are cowards in situations like this and so were their predecessors. If we hard strong leadership and Ireland was growing internally instead of riding on an external wave then these MNC could see more viable alternatives to reduce labour cost.

A tax break or some form of relief for companies that are struggling isn't a hard thing to do. Even if it keeps the employees there for another 2-3 years then at least it gives us the chance to get a broader outlook for the sector while keeping people out of dole queues.

What kind of grant? An "ignore compelling external realities outside of our control" grant?

The Royal Scam

Staff in Newbridge have been expecting this for a while. I work in here the odd time and heard the number 150 more than once. The place is like a ghost town compared to what it used to be like

Tugboats

As I a Pfz shareholder I hope this is true. We've been needing to trim back for a long time now

banned for continuous trolling

SimonQuinlank

Lovely.

stefan idiot jones

I'm not sure whether this applies to 'patents' running out, but I thought that when a laboratory/company develop and market a new drug, they only have exclusive rights to that drug for a few years before a generic version is allowed to sold by other companies.
This allows a balanced market in the long run rather than one company making a fortune on a wonder drug and holding everyone to ransom for ever.
I may be wrong but I doubt it, never happened before.

micosoft

steddyeddy wrote: »

In a short answer noooooooooooooooooooooo!

OK, maybe not a great movie.

kowloon

Feck, I think a relative of mine works there, someone might be in need of a generous present.

Alias G

MadsL wrote: »

Pharmageddon has been forecast for some time now.

And if you forecast something for long enough, you will eventually be proved correct.

Phoebas

Red Crow wrote: »

Let the sinking ship sink. That's the current government policy and you're saying that they can't offer an initiative, a relief, a grant?

Short-sightedness is the problem for the government. These people are going to be very hard to employee as the sector is in decline at the minute. These jobs most definitely can be saved. Maybe not them all but I think the IDA and FG/Lab are cowards in situations like this and so were their predecessors. If we hard strong leadership and Ireland was growing internally instead of riding on an external wave then these MNC could see more viable alternatives to reduce labour cost.

A tax break or some form of relief for companies that are struggling isn't a hard thing to do. Even if it keeps the employees there for another 2-3 years then at least it gives us the chance to get a broader outlook for the sector while keeping people out of dole queues.

Was that a serious answer?

NuckingFacker

ChippingSodbury wrote: »

I don't agree. When you look at the amount of money invested here in mid/ large pharma projects, it would make you eyes water. A lot of the initial investment was construction labour, they support a shed-load of local indigenous businesses on an ongoing basis e.g. engineering/ instrumentation/ calibration/ validation/ gases/ solvents/ waste management etc. etc. etc. They also pay good wages so even if they did pull out, they'll have far outpaid what they would have receivedin grant aid in the first place.
Incidentally, what "horse" would you have bet on given the chance?

I was talking to a guy from Pfizer in Newbridge today and the announcement is before lunch tomorrow: his bet was maybe 150 to go on that site

Yeah. Anyway, the horses they're quietly changing the saddle onto now and the ones they should have backed from the go - IT, Food and small, Irish Manufacturing. Thought they better get a move on as they're still dragging their feet.

Amirani

NuckingFacker wrote: »

Yeah. Anyway, the horses they're quietly changing the saddle onto now and the ones they should have backed from the go - IT, Food and small, Irish Manufacturing. Thought they better get a move on as they're still dragging their feet.

How have they not backed IT? They certainly have.

Irish manufacturing? That's deluded. Its impossible to compete with Asia or even the likes of Germany on this. Ireland's too small, too expensive and too remote to be a major player in manufacturing.

Menas

Worldwide their workforce has been cut by 50,000 since 2005 and it is ALL due to patents. Old ones expiring and not enough $$ generating new ones. But they still show an increase in their EPS and have a 3% dividend yield. So the path they have taken in cutting their cost base works for them.
Irish policy has very little to do with these decisions.

NuckingFacker

micosoft wrote: »

Totally agree. I mean, the pharma trade only employs 24,000 people on excellent pay and conditions in this country, export a mere €55.1 Billion per annum and only invested a paltry €7 Billion in infrastructure over the past 10 years. It's pathetic! Instead of the 10,000%+ return we should have invested on harder less glamorous options and the "right horse" like a 100 race accumulator, some magic beans and a trip to Las Vegas. Dumbos.

And what's more, the IDA/Government can't make patents last longer to keep those 150 jobs? Why can't they demand the world make patents last longer? Force people to only buy medicines made in Ireland? Idiots. Why does Barry O'Leary and the silly government not get this?

Pharmageddon was a great movie!

Hurde hur. The profits go to America and Germany, they pay little or no tax, 24,000 jobs that would have been better created elsewhere so as to be sustainable and the 7 billion on infrastructure is a drop in the bucket compared to the Grants, inducements and tax breaks. Your own figures show the situation. Come back in a few years and it'll be like the Great property boom -"Jasus, remember when we buried into Pharma like eejits?".
And I've been in every one of the Plants we're talking about at construction phase. The only factory I'm glad to see going up is the new Kerry foods one - that's sustainable.

Menas

NuckingFacker wrote: »

Hurde hur. The profits go to America and Germany, they pay little or no tax, 24,000 jobs that would have been better created elsewhere so as to be sustainable and the 7 billion on infrastructure is a drop in the bucket compared to the Grants, inducements and tax breaks. Your own figures show the situation. Come back in a few years and it'll be like the Great property boom -"Jasus, remember when we buried into Pharma like eejits?".
And I've been in every one of the Plants we're talking about at construction phase. The only factory I'm glad to see going up is the new Kerry foods one - that's sustainable.

What is your point? That there is no point attracting any industry that may hit on hard times...except indigenous irish?

Annasopra

Hitchens wrote: »

is it pronounced 'Piffizer' ?

No Feyezer

markad1

Good luck to the staff this morning.

sunflower27

For Forks Sake wrote: »

Fyzer

Phizer