Ireland -Pfizer announces job cuts -June 7, 2012

Pharmaceutical company Pfizer announced it will be cutting 177 jobs in Cork but that Ireland will remain its key location. Pfizer said the company will install a voluntary redundancy scheme to try to avoid compulsory redundancies. If the scheme fails to perform, however, the company will seek compulsory redundancies. The lay-offs are said to be due to a switch to drugs that are more easily manufactured as well as a number of products come off patent. Unions and Pfizer are set to discuss the redundancy plan later, as the lay-offs are not planned until next year.

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