Pfizer is in the midst of an aggressive, multi-year cost-cutting effort, which so far has left nearly 2,000 people jobless.
Pfizer will part ways with more than 200 employees across Switzerland as part of continuing effort to slow its cash burn, according to a Wednesday report from Bloomberg.
After the layoffs, the pharma expects its Switzerland headcount to shrink to around 70 people, down from 300, the publication noted, citing anonymous sources familiar with the matter. Pfizer expects to complete this workforce reduction by the end of the year. In a statement to Bloomberg, a company representative said that the pharma is “streamlining and realigning” resources in an effort to reduce operational complexity.
The cuts come after Pfizer in late September announced that Sabine Bruckner, who has helmed the pharma’s operations in the country since 2020, will be replaced by Rea Lal. While Bruckner was reassigned to a different post within Pfizer, Lal, who was previously overseeing the company’s Access and Value department, will have her mandate reduced, Bloomberg’s sources said.
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