Pfizer Inc. (PFE) Cutting Hundreds of Jobs in Germany
9/16/2011 7:44:05 AM
The world’s biggest pharmaceutical firm Pfizer is cutting more than 500 jobs in Germany – around one in eight of the work places in the country, according to insiders who have spoken to the Handelsblatt newspaper. The paper reported on Thursday that the areas most hit would be representatives of the company who visit doctors to promote particular drugs. But some of the cuts would be in the administration too, it said. The plans are said to be part of the global savings programme with which Pfizer intends to get over an extended period of reduced turnover due to the expiry of patents on several important drugs.