PFE - Pfizer's Cost-Cutting Measures: 500 Job Cuts in Kent Facility Higher Than Anticipated | Benzinga
Pfizer Inc (NYSE: PFE) is reportedly discontinuing its pharmaceutical sciences small molecule (PSSM) operations at Sandwich in Kent to streamline operations and enhance efficiency.
The decision will result in significant job cuts, with plans to eliminate 500 out of 940 positions.
Citing Pfizer spokesperson, Sky News highlighted that the announcement comes within the context of Pfizer's company-wide cost-cutting measures, driven by lower-than-expected sales of its COVID-19 vaccines and treatments.
Primarily, scientist roles are expected to be affected by the job cuts, although administrative positions within the ...