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Thread: what's the story with Pfizer?

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    Politics.ie Member asknoquestions's Avatar
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    Default what's the story with Pfizer?

    heard the staff in all plants were called to meetings this morning

    is the following true?
    1. plant to be sold by Q1 2008
    2. 2nd plant API to be sold by end 2007-02-08
    3. OSP 2 and OSP 3 to be closed by end of 2007

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    There've been rumours of a significant amount of layoffs there doing the rounds since before Christmas....along with Dell, HP, Xerox and Coke...
    Je suis un loo-lah

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    Quote Originally Posted by Sidewinder
    There've been rumours of a significant amount of layoffs there doing the rounds since before Christmas....along with Dell, HP, Xerox and Coke...
    Heard about the others alright, but not Coke...........

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    How come no one's heard about the cutbacks at Pfizer??

    They announced cutbacks in Belgium about 3 weeks ago and their HQ in the US had given to understand that there'd be cutbacks worldwide.

    760 jobs are going in Germany.

    Did no one in Cork hear about this??

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    Politics.ie Member Munion's Avatar
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    Unfortunately many of Pfizer's lead drugs will have their patents run out soon, so generic manufacturers will take over production. There has been significant concern over Pfizer's new drug pipeline or rather lack of to replace these older drugs.

    I've a first cousin working in the plant, dropped her a text a min ago to see if she knows anything.
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    RTÉ

    Doesn't look too bad actually. At worst, 500 jobs lost out of 2200 in Ireland. Still a nasty blow for all concerned, but could've been a lot worse.

    Then again, the company isn't doing well and this could be just the first cut, if their fortunes don't improve by the end of the year.
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    Quote Originally Posted by Sidewinder
    RTÉ

    Doesn't look too bad actually. At worst, 500 jobs lost out of 2200 in Ireland. Still a nasty blow for all concerned, but could've been a lot worse.

    Then again, the company isn't doing well and this could be just the first cut, if their fortunes don't improve by the end of the year.

    The multiplier effect on employment in the local economy might be in the range of 2-3 jobs for every Pfizer job.

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    Quote Originally Posted by Ponzi
    Quote Originally Posted by Sidewinder
    RTÉ

    Doesn't look too bad actually. At worst, 500 jobs lost out of 2200 in Ireland. Still a nasty blow for all concerned, but could've been a lot worse.

    Then again, the company isn't doing well and this could be just the first cut, if their fortunes don't improve by the end of the year.

    The multiplier effect on employment in the local economy might be in the range of 2-3 jobs for every Pfizer job.
    How could one job in Pfeizer lose 2/3 elsewhere in the local economy?
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    Quote Originally Posted by Kev408
    Quote Originally Posted by Ponzi
    The multiplier effect on employment in the local economy might be in the range of 2-3 jobs for every Pfizer job.
    How could one job in Pfeizer lose 2/3 elsewhere in the local economy?
    Basic economics, Kev.

    You close down a plant, that plant stops buying from local suppliers. Some small traders will be reliant on their supply deal with the plant, that's just the way things tend to work. Those 500 employees, if they can't get another job quickly, have to cut back on spending. All sorts of shops, sole traders, small firms in the region suffer.

    There's always a multiplier effect when a large employer closes or cuts back. Generally, it is assumed that for every direct job created by a large employer, there are another 2 local jobs indirectly reliant on the cash generated by large plants.
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