EMCC European Monitoring Centre on Change



Geographic Location

Country: World


Sector: Manufacturing
Manufacture of pharmaceuticals, medicinal chemical and botanical products
21 - Manufacture of basic pharmaceutical products and pharmaceutical preparations
Number Employed: 81900
Group: Pfizer

Employment Effects

Announcement Date: 25-01-2009
Planned Job Reductions min: 8200
Planned Job Reductions max: 8200
Type of Restructuring: Merger/Acquisition
Employment Effect Start: 28-02-2009
Foreseen End Date: 31-12-2009

Additional Information

Pfizer and Wyeth have announced a merger agreement under which Pfizer will acquire Wyeth in a cash-and-stock transaction. With this merger, Pfizer will close five plants, with the loss of around 8,200 jobs (10% of the total workforce). Pfizer has around 81,900 employees worldwide, while Wyeth has around 47,500 employees. The combined company will create the world's premier biopharmaceutical company with a broad range of therapeutic solutions for many health challenges and preventive care.