Pfizer to cut 6,000 jobs

NEW YORK, May 18 (UPI) -- U.S. pharmaceutical giant Pfizer Global Manufacturing said Tuesday it will trim its workforce by 6,000 people and close eight plants worldwide over five years.

The New York company said in an announcement on its Web site the staff reduction is part of its plan to reshape its plant network following its 2009 takeover of Wyeth.

Eight plants will be shuttered in Ireland, Puerto Rico and the United States by the end of 2015. Operations will be cut back at six other plants in Germany, Ireland, Puerto Rico, the United Kingdom and the United States.

Pfizer said the cutbacks will improve manufacturing efficiency and lower costs by more effectively using resources and technology, improving plant processes, eliminating excess capacity and better aligning production with market demand. Some other plants will benefit from product transfers, Pfizer said.

"The restructuring of our global plant network is critical to our efforts to remain competitive so that we can continue to meet patient needs and expand the access and affordability of our medicines," Pfizer Global Manufacturing President Nat Ricciardi said. "Nevertheless, today's announcement is very difficult to make because of its impact on our colleague.

"We have a tremendous global workforce and some of the best manufacturing facilities in the industry. But we must continue to adjust to the fast-changing and extremely competitive environment in which we operate."