Pfizer cuts 180 jobs in Ireland

There's bad news for Cork, Ireland today. After an 18-month search, Pfizer announced plans to cut 180 jobs after failing to find a buyer for five manufacturing facilities there. In a statement, the company said all opportunities to find a buyer have been pursued, with no results. "We were initially optimistic that we would find a buyer because there was considerable interest," said Paul Duffy, Pfizer's vice president of manufacturing for Ireland. "Unfortunately, that interest has not translated into a sale." The first layoffs will begin in October and the entire site will be closed by the end of 2009. 

Pfizer is still trying to sell a facility Ringaskiddy, where 300 people are employed. The company is selling the plants because its planned blockbuster torcetrapib failed and the extra manufacturing capacity is no longer needed.

- read this report for more

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