01-22-2007, 04:10 PM
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 Pfizer to Slash 10,000 Jobs to Cut Costs
Quote: Pfizer to Slash 10,000 Jobs to Cut Costs
Jan 22, 12:46 PM (ET)
By THERESA AGOVINO
(AP) - Pfizer Inc. (PFE) (PFE) announced Monday it will cut 10,000 jobs, as the world's largest drugmaker seeks to cut costs by up to $2 billion a year amid fierce competition from generic drugs.
The company plans to close three research sites in Michigan and two manufacturing plants in New York and Nebraska. It may also sell another manufacturing site in Germany and close research sites in Japan and France.
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