Pfizer slahes off jobs

Pharmaceutical giant Pfizer said Tuesday that it will reduce its staff by another 6,000 jobs and shut down eight factories in its ongoing mission to cut costs in the wake of its merger with Wyeth.

This is not surprising to me at all. When it comes to acquisitions, it's usually for the betterment of the company as this broadens their scope of network along with products. Also, it will enable them to cash in on a larger consumer group. Naturally, the profits will rise and more innovations will come about as these 2 companies pitch their ideas together and hopefully, a breakthrough will be borned.


However, this merger will naturally come at a heavy cost, literally. It is exorbitant, particularly in this case for Pfizer to acquire Wyeth, no doubt it will pay off in the future. The short term impacts are for sure, painful and striking.

Even for Pfizer, who is extremely wealthy, it is definitely acerbic to maintain their balance throughout this period and if they happen to fall, they will fall hard, real hard. Normally, the standard approach to reducing cost is of course to fire their employees, streamline their operations and of course cut down costs when it comes to manufacturing.


"We obviously take these reductions very seriously and want to make sure our colleagues that are impacted by this are treated with dignity and respect," said Kerins.

How do they settle these issues then? Well, if they are not careful, they can easily trigger off a slippery slope. All their employees could go on strikes altogether. It is important to put it across to their employees nicely and not just dump them away. They are precious. Afterall, they have been with the company for quite some time and are naturally attached to it sentimentally.

If they are just thrown away like garbage and left to their own. It will definitely not give the company a good public image and naturally sales will plummet.


Hence, it is crucial and paramount to handle this issue with extreme care. Becareful Pfizer, don't let this incident break you !


Credits -cnn, -pharmaceutical, -southeasttechnologies, -examiner