Pfizer To Eliminate More Jobs

The New York Times has reported that the world’s largest pharmaceutical company, Pfizer, has announced that it plans to either let go or relocate some 1,400 employees from its New York offices.

The drug giant has also placed its Third Avenue office tower on the market, but announced that it would remain at its World Headquarters, located near the Grand Central Terminal.  Pfizer has been headquartered in New York City since its founding in 1849.

The cuts, as the Times points out, may come as surprise, especially seen in the light of the 2003 tax incentives Pfizer was given by the City and State of New York that were designed to create jobs in the area.

In addition to the current proposed layoffs and relocations, Pfizer eliminated another 2000 positions earlier this year in its facilities located in several of the Atlantic seaboard states.