Pfizer Slices 300 Jobs in MA

Xconomy Boston — 

Pharmaceutical giant Pfizer announced today it will be eliminating 300 manufacturing jobs by the end of 2015 at its Andover, MA, biotech plant, as part of a restructuring plan following its $68 billion acquisition of New Jersey-based Wyeth (NYSE: WYE) last year. Pfizer will be cutting about 6,000 jobs over the next few years, by shutting down eight sites and reducing headcount at another six plants worldwide, in order to increase the efficiency in its manufacturing processes, the announcement said. The job cuts will leave Pfizer with about 2,000 employees in Massachusetts, including its two locations in Cambridge.