Pfizer Inc. (PFE) to Shed 130 Jobs and Close Former King Pharmaceuticals®, Inc. Plant
8/11/2011 7:30:19 AM
The drug-making giant Pfizer announced Wednesday morning that it will end manufacturing work at its Bristol plant - the former King Pharmaceuticals by 2014, cutting 130 employees. Pfizer also announced it will close the logistics center at its Fifth Street facility by next year, which will affect 16 additional positions. The logistics work being done in Bristol will be moved to another company center in Memphis, according to Pfizer. Wednesday's moves represent the latest job reductions made by Pfizer in Bristol since the New York-based firm, the world largest maker of pharmaceutical drugs, took official control of King Pharmaceuticals local headquarters and manufacturing plant in March. Last October, Pfizer acquired King in a $3.6 billion deal.