Pfizer Announces Cost-Cutting Plan Including Layoffs of Nearly 800 Employees in New Jersey

At the same time, Pfizer has launched a multi-year, company-wide cost adjustment plan, which will adjust costs based on long-term revenue expectations. The plan is expected to save at least $3.5 billion, with $1 billion to be achieved in 2023 and another $2.5 billion in 2024.

Detailed Reading:Pfizer Cuts Full-Year Revenue Guidance, Plans Layoffs

On October 10, foreign media reported that Pfizer was laying off staff at its research facility in Boulder, Colorado.

According to recent reports by the Triangle Business Journal and other publications, Pfizer will also close two factories in North Carolina.