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news.Pfizer plans to cut 700 jobs in France in 2009 as part of its global reorganization efforts. The company said that the restructuring will affect both its sales force and headquarters staff.
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Pfizer laid the blame on the rising R&D costs, increasing generic competition and tougher drug regulations for its restructuring operations in France.
The global pharmaceutical industry has seen a large number of job cuts in the recent times. Previously, GSK cut its sales force by 1,000 while Novartis axed 550 sales jobs. Merck, Wyeth and Bristol-Myers Squibb Co have also trimmed their workforce.