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Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts - Business - Nairaland

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Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by FreeStuffsNG: 6:31am On Nov 15, 2023
Pfizer to cut 500 jobs at UK site as part of wider cost cuts



Pfizer will cut 500 jobs at its Sandwich, Kent site in the U.K. as part of its $3.5 billion cost-cutting plan, the drugmaker said on Tuesday.


The U.S. drugmaker announced the cost-cutting program in October after slashing its full-year revenue forecast due to lower-than-expected sales of its COVID-19 vaccine and treatment.

The demand slump also pushed the company to post its first quarterly loss since 2019.

Pfizer, which employs roughly 83,000 people globally, has not disclosed how many jobs will be affected by the cost-reduction program.

"Various areas of Pfizer's global enterprise are making changes to operate more efficiently and effectively. These changes will be implemented on a rolling basis and will differ area to area," a spokesperson said in an emailed statement.

The company said on Tuesday it would share further details on the program as part of the full-year forecast for 2024. Pfizer is expected to report fourth-quarter earnings in late January.

The company's shares were up 2% on Tuesday. They have lost about 42% of their value this year through last close, largely due to concerns over demand for its COVID products.

Reporting by Christy Santhosh; Editing by Shailesh Kuber and Sriraj Kalluvila
https://www.reuters.com/business/pfizer-cut-500-jobs-kent-site-sky-news-2023-11-14/

3 Likes

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by FreeStuffsNG: 6:32am On Nov 15, 2023
The U.S. drugmaker announced the cost-cutting program in October after slashing its full-year revenue forecast due to lower-than-expected sales of its COVID-19 vaccine and treatment.

Business decision that failed to meet projections. Covid-19 is no longer a serious global health problem unlike how it was projected before they increased OPEX globally..

By the time Pfizer extends its cost-reduction decision to their team here in Nigeria, the ignorant naysayers, unpatriotic elements, insolent, barbaric and made illiterates by technology (apologies to Prof Wole Soyinka) will not be able to read and understand it and will ignorantly move on to blame President Buhari and his successor, President Bola Ahmed Tinubu, GCFR who have nothing to do with Pfizer's business decision. Check my signature for free stuffs!

15 Likes 1 Share

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by helinues: 6:32am On Nov 15, 2023
Hardship is really hitting on UK lately

Brexit, Russia/Ukraine, Israel/Palestine war. Those are the factors

10 Likes 1 Share

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by PlayMaker14: 6:36am On Nov 15, 2023
helinues:
Hardship is really hitting on UK lately
Can you compare that to the Shege Banza you receive here in Nigeria under your Tinubu?

You bend down dey look Britain yansh, but you forget that your own yansh is getting viewed by others.

35 Likes 8 Shares

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by helinues: 6:37am On Nov 15, 2023
PlayMaker14:
Can you compare that to the Shege Banza you receive here in Nigeria under your Tinubu?

Are you saying you are going through President Tinubu's shege currently ?

15 Likes 3 Shares

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by Urheadmaster(m): 6:38am On Nov 15, 2023
While in Nigeria, suffering and smiling is the order of the day tongue
helinues:
Hardship is really hitting on UK lately

Brexit, Russia/Ukraine, Israel/Palestine war. Those are the factors

8 Likes 4 Shares

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by helinues: 6:38am On Nov 15, 2023
Urheadmaster:
While in Nigeria, suffering and smiling is the order of the day tongue

Just stop being incoherent for your own sanity sake.

11 Likes 3 Shares

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by PlayMaker14: 6:40am On Nov 15, 2023
helinues:


Are you saying you are going through President Tinubu shege currently ?
Do I look like one of those Rice and Plantain bandit crying that their brother has brought them untold hardship?


Ronu oh!!!!

13 Likes 4 Shares

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by PlayMaker14: 6:41am On Nov 15, 2023
helinues:


Just stop being incoherent for your own sanity sale.
“Sake”


Now, see how incoherent you are. 🙂

10 Likes 4 Shares

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by Brenbentondiaz: 6:41am On Nov 15, 2023
Boo hoo Tulumbu don spoil UK economy boo hoo.

1 Like

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by helinues: 6:43am On Nov 15, 2023
PlayMaker14:
Do I look like one of those Rice and Plantain bandit crying that their brother has brought them untold hardship?


Ronu oh!!!!

Then why are you crying more than the bereaved. After all, only those who voted Apc are going through hardship in Nigeria, others are bullionaires

15 Likes 3 Shares

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by Brenbentondiaz: 6:44am On Nov 15, 2023
helinues:
Hardship is really hitting on UK lately

Brexit, Russia/Ukraine, Israel/Palestine war. Those are the factors

All of these are because Tulumbu no good. He has destroyed the UK economy. If to say na Ekute dem allow to rule Nigeria the UK economy for no dey go down. Agbadorians go dey lament for UK now.

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Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by helinues: 6:45am On Nov 15, 2023
Brenbentondiaz:


All of these are because Tulumbu no good. He has destroyed the UK economy. If to say na Ekute dem allow to rule Nigeria the UK economy for no dey go down. Agbadorians go dey lament for UK now.

Abi oo, His last visit to UK could have brought this bad luck.

Chai, those headless mob are not headless but mindless

8 Likes 1 Share

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by Brenbentondiaz: 6:46am On Nov 15, 2023
helinues:


Just stop being incoherent for your own sanity sake.

The guy is an Ibodient. Sanity is a foreign term to them.

10 Likes 1 Share

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by PlayMaker14: 6:49am On Nov 15, 2023
helinues:


Then why are you crying more than the bereaved. After all, only those who voted Apc are going through hardship in Nigeria, others are bullionaires


Do you also stutter when you type?

4 Likes 2 Shares

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by MANNABBQGRILLS: 7:02am On Nov 15, 2023
It’s a sharp reversal from last year, when Pfizer reported record full-year revenue of $100 billion due to sales of its Covid-19 treatments. After peaking in December 2021, PFE stock has been cut in half as the company’s Covid-19 sales peaked and have steadily fallen.

Meanwhile, for the business minded people.....

5 Likes 4 Shares

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by Tjra: 7:03am On Nov 15, 2023
cry
Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by Kukutente23: 7:03am On Nov 15, 2023
helinues:
Hardship is really hitting on UK lately

Brexit, Russia/Ukraine, Israel/Palestine war. Those are the factors
Yet Nigerians at running to the place
So what's hitting Nigeria then

2 Likes 2 Shares

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by nautybride: 7:04am On Nov 15, 2023
cry
Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by helinues: 7:04am On Nov 15, 2023
PlayMaker14:



Do you also stutter when you type?

Do you cry instead?

6 Likes 1 Share

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by Padipadi: 7:07am On Nov 15, 2023
Pfizer wey dey do drugs?
Oga o!
Everything is doing like economic worldwide global warming.
Companies dey fold up, dey downsize. Few days ago MTN comot for Guinea n Sierra Leone.

5 Likes 2 Shares

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by Kukutente23: 7:07am On Nov 15, 2023
Brenbentondiaz:


All of these are because Tulumbu no good. He has destroyed the UK economy. If to say na Ekute dem allow to rule Nigeria the UK economy for no dey go down. Agbadorians go dey lament for UK now.
How does Pfizer an American company cutting cost globally mean UK economy is destroyed

4 Likes 2 Shares

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by Passionnn: 7:08am On Nov 15, 2023
E no consign me
Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by Yankee101: 7:08am On Nov 15, 2023
They kilt it with Covid money
Now they’re throwing away the staff that took the risk and did the hard work while the company is pocketing billions

2 Likes

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by seunlayi(m): 7:09am On Nov 15, 2023
E don reach dem

2 Likes

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by ATEAMS: 7:10am On Nov 15, 2023
Damn
Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by clydecarson(m): 7:12am On Nov 15, 2023
PlayMaker14:



Do you also stutter when you type?


You get time to dey reply that weerey,that one na known scammer

2 Likes 1 Share

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by mignone(f): 7:14am On Nov 15, 2023
Kukutente23:

Yet Nigerians at running to the place
So what's hitting Nigeria then
... a place dt feels to them like paradise.

2 Likes 1 Share

Re: Pfizer To Cut 500 Jobs At UK Site As Part Of Wider Cost Cuts by nairalee(m): 7:18am On Nov 15, 2023
Nawa ooo when u see 500 jobs just think about 500 bread winners, 500 families and 500,000 different people it will affect

2 Likes

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