Pfizer axes 2400 Kent jobs

The new CEO of Pfizer, Ian Read, who took over in December, wastes no time in meeting shareholders concerns that the Company is too large and bloated after recent huge mergers, closing  the entire Research and Development plant in Sandwich Kent  over the next two years, with the loss of almost all 2,400 jobs. 

This comes at a very bad time for UK unemployment figures and just three weeks after David Cameron phoned the Company personally requesting them to innovate, invest and employ people in the UK.

However, with some of their high earning drug patents close to expiry, new drugs failing to make an impact and Pfizer' share price underperforming the sector by about 20%, their investors have clearly been put first and the axe has generally fallen on R&D areas of Pfizer world wide.

Approximately 3,000 people remain employed by Pfizer in the UK.