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Pfizer UK To Cut 500 Jobs As Part Of Its Cost Restructuring Plan

As per the company's quarterly results, the pharmaceutical major is staring at a loss due to lower demand for its products.

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Pfizer is reportedly going to layoff 500 employees at its facility in Kent, UK as part of its cost-cutting measures.

As per the company's quarterly results, the pharmaceutical major is staring at a loss due to lower demand for its products. Media reports state that the company had to write off the combined inventory of over $5.5bn.

While it is not clear as to which job roles will be impacted by the layoff decision, Pfizer has assured all the stakeholders that the layoff process will be transparent and will be carried out as per the applicable labour and employment laws in the U.K.



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