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Pfizer to cut 500 jobs in UK
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(Reuters) — Pfizer (NYSE:PFE) will cut 500 jobs at its Sandwich, Kent site in the U.K. as part of a cost-cutting effort, the drugmaker said on Tuesday.
The U.S. drugmaker announced a $3.5 billion cost-cutting program in October after slashing its full-year revenue forecast due to lower-than-expected sales of its COVID-19 vaccine and treatment.
The layoffs follow the discontinuation of its Pharmaceutical Sciences Small Molecule operations at the site, the company said.
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