GROTON, Conn — Layoffs are possibly on the horizon at Pfizer's research facility in Groton, as it launches a company-wide "cost realignment program."
Pfizer said in a statement Thursday that "Pfizer’s global enterprise is making changes to operate more efficiently and effectively," and it could result in layoffs in Groton, as well as other facilities.
The pharmaceutical company announced the cut in October due to "lower-than-expected sales of its COVID-19 vaccine and treatment," according to a Reuters report. Pfizer expects to save $3.5 billion annually from the layoffs, as well as from other global cost-cutting efforts, by the end of 2024, Reuters added.
It is not clear how many jobs at the Groton facility or across the company will be affected by this cut.
There are no recent WARN notice listings from Pfizer on the Connecticut Dept. of Labor's website as of 3:45 p.m. Thursday.
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