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Pharmacy Jobs in Connecticut with Pfizer Cut

Posted on January 15, 2009

Some people with pharmacy jobs in Connecticut will soon be out of work.

Pfizer Inc. recently announced its plan to to reduce the company’s global research organization by about 8 percent, which means hundreds or workers will lose their jobs at the company’s southeastern Connecticut facilities, according to an article by the Republican American.

Pfizer has been focusing on restructuring its worldwide company and is planning to make layoffs to help cut cots. The company’s research and development facility in Groton is its largest and it’s anticipated that as many as 500 of the company’s expected 800 layoffs could happen in Connecticut. The company employs a total of about 10,000 workers in the area.

“Pfizer, whose worldwide sales total more than $48 billion, employs about 83,000 worldwide, and the company has committed more than $7 billion toward research and development of new drugs — the largest in the industry,” the article notes. “Locally, Pfizer employs more than 5,000 at its campuses in Groton and New London. Its worldwide research and development headquarters is based in New London.”

The job cuts at Pfizer will only further the state’s continuing job losses. Connecticut had a total non-farm employment of 1,693,400 workers during November 2008, according to the United States Department of Labor Bureau of Labor Statistics. This is down from 1,698,500 workers during October 2008 and a .6 percent decrease from last year.

During November, Connecticut had an unemployment rate of 6.6 percent, up from 6.5 percent during October but lower than the national unemployment rate of 6.7 percent.