Pfizer Reorganizes R&D, Slashes Jobs

Pfizer has announced that it will close its flagship U.K. R&D center at Sandwich with the loss of 2,400 jobs and shift “selected resources” from Groton, CT to Cambridge, MA and outsource certain functions resulting in the loss of a further 1,100 or so jobs. Pfizer also is planning to enhance its presence in Cambridge, MA to complement research teams in other hubs like San Francisco, New York, La Jolla and Cambridge, U.K. The changes will reduce costs: The company spent $9.4 billion on R&D in 2010 and predicts it will spend...

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