The pharmaceutical giant has announced it will slash its headcount to save money through 2024, though it did not specify how many jobs will be lost.
Pfizer is slashing its headcount after announcing it was going to cut its full-year revenue forecast by 13 percent earlier this week amid slumping sales of its COVID-19 vaccine.On October 13, the American pharmaceutical and biotechnology corporation said it expected its revenue for 2023 to be between $58 billion and $61 billion, down from an initial forecast of between $67 billion and $70 billion.The company earned record revenue topping $100 billion last year.
Posts on social media say that Pfizer held a live stream with thousands of employees to announce the layoffs. Newsweek could not verify whether the claims are true, but contacted Pfizer's media team for comment by email on Friday.According to screenshots shared on Reddit and allegedly taken from a live stream with Pfizer executives, employees were critical of the company, with one asking if the leadership team 'will painfully readjust their salaries too.
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