Mass Layoff in Pfizer

steddyeddy · 04-12-2013 01:24AM

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 · 04-12-2013 01:29AM

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 · 04-12-2013 01:37AM

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 · 04-12-2013 01:52AM

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 · 04-12-2013 02:13AM

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 · 04-12-2013 02:19AM

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 · 04-12-2013 02:25AM

Lovely.

stefan idiot jones · 04-12-2013 02:41AM

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 · 04-12-2013 03:00AM

steddyeddy wrote: »

In a short answer noooooooooooooooooooooo!

OK, maybe not a great movie.

kowloon · 04-12-2013 03:17AM

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

Alias G · 04-12-2013 05:47AM

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 · 04-12-2013 08:13AM

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 · 04-12-2013 08:53AM

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 · 04-12-2013 09:04AM

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 · 04-12-2013 09:07AM

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 · 04-12-2013 09:08AM

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 · 04-12-2013 09:10AM

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 · 04-12-2013 09:18AM

Hitchens wrote: »

is it pronounced 'Piffizer' ?

No Feyezer

markad1 · 04-12-2013 09:19AM

Good luck to the staff this morning.

sunflower27 · 04-12-2013 09:19AM

For Forks Sake wrote: »

Fyzer

Phizer

BillyMitchel · 04-12-2013 09:35AM

micosoft wrote: »

Pharmageddon was a great movie!

Who is in it? Richard E Grant?!

Sorry it's early.

petes · 04-12-2013 10:32AM

http://www.breakingnews.ie/ireland/pfizer-seeking-150-redundancies-at-newbridge-plant-616162.html

Seeking 150 redundancies

SEPT 23 1989 · 04-12-2013 10:59AM

could have been worse

not nice news to receive before Christmas though

diomed · 04-12-2013 01:27PM

The Newbridge Pfizer choir were going to sing Christmas carols at the nursing home where my mother stays. I'm very sad to hear their jobs are at risk.

sparksfly · 04-12-2013 03:21PM

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.

Absolute crap. Pfizer is 20 years in Newbridge. Some pharma plants are here for over 30 years. They have proven to be fantastic employers giving super conditions.
90% of its products are exported, they are huge net wealth generators for the state.
Pfizer, like many pharmas, not only supports its employees but hundreds of Irish suppliers and contractors, communities, schools and charities.
Pfizer provides free private healthcare and subsidises pensions which reduces the burden on state services and further creates jobs in these sectors.
To dismiss them in any way is idiotic.

micosoft · 04-12-2013 04:25PM

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.

You are so right! It's an OR type question. The IDA/Govt could have created 24,000 jobs with pharma OR 24,000 sustainable jobs instead. Numpties. Simply NOT possible to do both. And they picked the only industry that changes! Every other "sustainable" "indigenous" "industry" in Ireland is completely immune to market forces. Once you set them up that's it. No job losses ever! And every penny of wages earned by those workers goes straight out of the country as they are required to fly out to Germany or the US to do their weekly shop. Good to see you are into construction site tourism as well - another wonderful sustainable business. Did you sympathise with the contractors getting their money but having to spend it outside the country?

When I listen to your "sustainable" approach to economic matters I think of another hero of mine! Juche forever!

Bog Standard User · 04-12-2013 04:51PM

NuckingFacker wrote: »

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

it was due to deflation i believe

Tiddlypeeps · 04-12-2013 05:09PM

I don't really understand how the pharma industry is in decline. Surely patents expiring just displaces profits. Instead of Phizer making a mint off of Viagra now many companies are making money off a generic alternative. Those generic alternatives need to be produced by people so I don't understand how patent expirations are permanently removing jobs from the economy forever.

Also sorry to hear about all the job losses, it's a ****ty time of year for this to happen.

stevenmu · 04-12-2013 05:23PM

Tiddlypeeps wrote: »

I don't really understand how the pharma industry is in decline. Surely patents expiring just displaces profits. Instead of Phizer making a mint off of Viagra now many companies are making money off a generic alternative. Those generic alternatives need to be produced by people so I don't understand how patent expirations are permanently removing jobs from the economy forever.

+1. It's also worth pointing out that some of the big generics manufacturers have operations in Ireland and employ lots of people here.

Menas · 04-12-2013 05:25PM

Tiddlypeeps wrote: »

I don't really understand how the pharma industry is in decline. Surely patents expiring just displaces profits. Instead of Phizer making a mint off of Viagra now many companies are making money off a generic alternative. Those generic alternatives need to be produced by people so I don't understand how patent expirations are permanently removing jobs from the economy forever.

Also sorry to hear about all the job losses, it's a ****ty time of year for this to happen.

If you look at it from a global perspective then you are correct.
But from a Pfizer perspective they no longer make large profits per pill and they don't sell/manufacture as many - thus they cut jobs.
From an Ireland perspective we only have some drug manufacturers here, many generics are made out side of Ireland. So less pills to make = less jobs.

Mass Layoff in Pfizer

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