I heard it through the grapevine that R&D layoffs are starting this coming week. Said to be widespread but I don't know how deep. If it is a canary in the coal mine of things to come for us in the salesforce I don't know but certainly doesn't make me feel warm and fuzzy although I guess we always live on the edge. Has anybody else gotten wind of this?
Cuts in BT also - 150 people in the US, cuts in Europe yet to come. Life in Pfizer. No matter how good you are your job can be gone in a heartbeat..........
They should cut all R&D.....billions upon billions spent over so many years with nothing coming out of PFE R&D.....biggest waste of dollars in the history of mankind = PFE R&D
We're overpaid and ineffective - an even bigger waste of money than Pfizer R&D. More layoffs coming until ALL the sales force is contracted out. This is not new or startling, right?
Not at all. Sux figure incomes to do next to nothing. Insurance companies run healthcare. Consumers are not going to pay exorbitant prices for a me- too drug when a generic will do the same thing. Generic companies have better state of the art facilities than we do. Drs. Don't trust Pharma. We are slowly becoming extinct
If there were no R&D how would we be able to keep overcharging for our drugs and asking for tax breaks?
That's what the Republicans in Congress are for. We fund them and in return they will give us everything we want to keep big money flowing to executives and major shareholders. It's the ultimate unholy alliance but it works!
If you track the number of R&D staff axed over the years (Ann Arbor, New London, Sandwich, etc.) it is as much of a shift to lower cost environments than it is absolute headcount reductions. When a fairly junior employee costs $100K in the US (with benefits and so forth) but an equally qualified Chinese PhD can be had for $25K, you can do the math. Since labor is the biggest cost of R&D, and instruments and supplies cost pretty much the same the world over, expect to see continued downsizing in North America and Western Europe even as worldwide R&D headcount remains relatively unchanged.
The NFL is tax exempt, why isn't Pfizer? We improve peoples lives, save many. What does the NFL contribute to society? Don't include the drug users, wife beaters, murderers, thugs, and a way to waste a Sunday afternoon.
Well said. Even for the work being done in the US, it is all outsourced to two CROs . Parexel and ICON. They have the majority of that work done in NC and TN, which is cheaper than the northeast. A third CRO partnership is about to be announeed as as according to the outsourcing pharma website. Is that the cause to these planned layoffs in Development?
