Pfizer cuts 6,000 jobs

Following the acquisition of Wyeth last year, Pfizer has confirmed that up to 18 per cent of its global workforce - 6,000 jobs - will be cut. These reductions are part of efforts to streamline the company and form part of the 19,000 jobs Pfizer said it would eliminate after its $68bn acquisition. They come alongside the closure of eight of the group's 78 factories in North America and Europe.

The eight manufacturing sites, in Ireland, Puerto Rico and the US, will close by the end of 2015 and operations will be reduced at six other plants in Germany, Ireland, Puerto Rico, the UK and the US.

"The restructuring of our global plant network is critical to our efforts to remain competitive," said Nat Ricciardi, Pfizer's global manufacturing president.

The company will attempt to restrict the impact on communities by selling assets, rather than closures, where possible.

In November 2009, Pfizer announced the closure of six research centres.