Pfizer Merger to Shut Down Six R&D Sites, Resulting in 2,000 Layoffs, an Industrial Info News Alert
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SAN DIEGO, CA -- (MARKET WIRE) -- 11/11/09 -- Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas) -- Early Monday morning, the buzz at the International Society of Pharmaceutical Engineers (ISPE) conference in San Diego, California, was that Pfizer Incorporated (NYSE: PFE) (New York, New York) was planning to sell its massive St. Louis/Chesterfield, Missouri, research site to Monsanto Company (NYSE: MON) (St. Louis). By day's end, the truth had proven to be more dramatic than the rumors: To achieve a 35% reduction in global square footage, the company is going to close six research and development sites across the United States and lay off an estimated 2,000 people.
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