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news.Pfizer plans to cut 2,400 sales staff as part of its downsizing efforts to overhaul the workforce and reshape the company into smaller and more focused business units, according to The Wall Street Journal.
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It is believed that a majority of the layoffs will include sales representatives and middle managers who comprise one-third of Pfizer’s marketing workforce.
Pfizer may also extend its cost-cutting efforts to other major areas like advertising and manufacturing.
The expiry of the Lipitor patent in 2011 and the predicted rise in generic competition are believed to be among the major reasons behind Pfizer’s downsizing efforts.