Pfizer Inc. (PFE) Layoffs Slightly Larger Than Projected
2/11/2013 7:44:35 AM
Pfizer Inc. has quietly cut hundreds of jobs at its Groton laboratories over the past year, leaving a workforce that is slightly smaller than what the pharmaceutical giant projected as it announced a downsizing of 1,100 positions two years ago. Pfizer had 4,500 employees - mostly scientists - at its Groton and New London campuses two years ago, when the New York-based company announced a major downsizing that would cut the local workforce to slightly less than 3,400. By June of last year, Pfizer reported that reductions were well under way, with about 3,700 employees remaining on the Groton campus. Pfizer's response to a request last week for an update on the local jobs number initially indicated there were now slightly fewer than 3,150 Pfizer employees at the company's consolidated site in Groton - 250 fewer than had been anticipated when the local downsizing was announced. The company later amended the number, however, saying the initial report had neglected to count some personnel, and Pfizer gave a new census of about 3,300 employees, only a hundred less than what had been projected. "There are no further planned reductions," said Lauren Starr, a Pfizer spokeswoman. "Groton is of central importance to the company." The campus off Eastern Point Road became the company's sole local presence after the sale of the New London office complex - Pfizer's former worldwide R&D headquarters - to Electric Boat two years ago. John Beauregard, executive director of the Eastern Connecticut Workforce Investment Board, said any job reductions by Pfizer mean additional cuts elsewhere in the labor force. He pointed out, however, that projected job increases at Electric Boat - numbering at least 300 in the early part of this year - will help compensate for any losses at Pfizer, assuming the drug company's downsizing levels off.