Pfizer Continues Global Restructuring, Hundreds of Swiss Employees Affected by Layoffs
Major Workforce Reduction Implemented to Achieve $7.7 Billion Cost-Savings Target
Pharmaceutical giant Pfizer is expanding its global cost-cutting agenda, with reports indicating that hundreds of employees in Switzerland are set to be dismissed in the coming weeks. This effort is part of a multi-year initiative designed to realign the company’s operations worldwide.
According to unofficial sources, Pfizer plans to drastically reduce its Swiss workforce from approximately 300 staff members to around 70 by the end of the year. A company spokesperson confirmed that changes are being made in Switzerland to ensure the best strategies and models are in place for delivering medicines and vaccines to patients. This involves streamlining and realigning resources to reduce complexity and optimize work in areas with the greatest impact.
Context and Savings Objectives
The downsizing in Switzerland occurs as Pfizer continues to raise its global cost-savings objectives. The company has lifted its overall savings target to $7.7 billion through 2027. Pfizer expects to realize $4.5 billion of that sum in net cost savings by the end of 2025, achieved through realigning the Research & Development (R&D) organization, reducing administrative expenses, and optimizing manufacturing operations.
This Swiss reorganization also follows the replacement of Pfizer’s long-time Swiss leader just over two months prior, with company veteran Rea Lal, who has been with Pfizer for over 16 years and previously led the access and value department, taking over the role.
Other Pharmaceutical Firms Also Adjusting Operations
Pfizer is not the only major drugmaker adjusting its operations in Switzerland. Late last month, Basel-based Novartis announced a $26 million investment to overhaul automation at its manufacturing complex in Stein. In addition, Novartis will cease manufacturing and packaging of tablets and capsules at that site by the end of 2027, resulting in approximately 550 job cuts. Concurrently, Novartis is committing to an $80 million investment at a facility in Schweizerhalle to enhance siRNA manufacturing, a project expected to create about 80 new jobs by the end of 2028.
