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Pfizer Inc. (NYSE:PFE) To Cut Off 150 Jobs At its New York Vaccine Production Site

Pfizer Inc (NYSE:PFE)Pfizer Inc (NYSE:PFE)

Pfizer Inc. (NYSE:PFE) will be cutting 150 jobs at its Pearl River site in New York, in line with its plan of closing out vaccine manufacturing at that site. The company has indicated that the layoff will happen between August 20th and October 28th. Susan Rutledge, a spokesperson for the company, confirmed the cuts and noted that about 50 employees would remain to complete the ‘decommissioning’ of the vaccine production operation there.

Pfizer Pearl River site was once home to Wyberbefore being acquired in a $68 billion deal back in 2009. The site had 4,000 employees at that time. Pfizer has been having rounds of cuts and the completion of the current one, will leave the site with about 700 employees in oncology drug production and research and development operations. The company had previously eliminated Consumer health production, a time when it was planning to shut down eight manufacturing sites in Puerto Rico,Ireland, U.S. by the end of 2015 and reduce operational plants in Ireland,Germany, Puerto Rico, the U.S and the U.K.

Industrial Reality Group, LCC, a real estate development and investment firm acquired more than 2 million sq. ft and 200 acres of the campus back in November 2015. It had an initial plan of mixed use, multi-tenants campus. IRG roughly bought 38 buildings that are currently manufacturing, laboratory, pharmaceuticals, office and supporting buildings. Pfizer remained with 500,000 sq.ft, though it leased back 1.2 million sq.ft from IRG.

Pfizer is currently focused on biological manufacturing. The company is seeking approval for a €300 million to €400 million biological plant expansion in Ireland, and Dublin. The development could lead to 350 new jobs and allow Pfizer to expand capacity for Enbrel and other drugs. Pfizer also plans to invest $200 million in building a 175,000 square-foot facility at it campus in Andover, MA to produce complex vaccines and biologics.

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