Location: New York, NY, USA.
Department affected: Biotech Division.
Based on news reporting.
Pfizer Inc. has announced layoffs affecting approximately 200 employees in its biotech division due to a loss of interest in commercializing a PROTAC inhibitor. This decision comes as the company shifts its focus away from this specific project, which has led to a restructuring within the organization. The layoffs are expected to impact operations significantly, as the affected employees were integral to the development of this therapeutic approach. The company is navigating a challenging landscape in biotech, prompting these workforce reductions to realign its strategic priorities.
Pfizer Inc. cut 200 jobs affecting its Biotech Division team as of October 1, 2023.
That is roughly 0.2% of the 88,000 people Pfizer Inc. employs.
LayoffTalk has tracked 8 layoff events at Pfizer Inc. since October 2023, affecting a combined 618 employees.
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