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what's the story with Pfizer?


asknoquestions

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Joined
Oct 25, 2006
Messages
2,977
heard the staff in all plants were called to meetings this morning

is the following true?
1. plant to be sold by Q1 2008
2. 2nd plant API to be sold by end 2007-02-08
3. OSP 2 and OSP 3 to be closed by end of 2007
 

Sidewinder

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Oct 23, 2004
Messages
442
There've been rumours of a significant amount of layoffs there doing the rounds since before Christmas....along with Dell, HP, Xerox and Coke...
 

Johnny

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Sidewinder said:
There've been rumours of a significant amount of layoffs there doing the rounds since before Christmas....along with Dell, HP, Xerox and Coke...
Heard about the others alright, but not Coke........... :shock:
 
Joined
Feb 5, 2003
Messages
12
How come no one's heard about the cutbacks at Pfizer??

They announced cutbacks in Belgium about 3 weeks ago and their HQ in the US had given to understand that there'd be cutbacks worldwide.

760 jobs are going in Germany.

Did no one in Cork hear about this??
 

Munion

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Aug 17, 2006
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319
Unfortunately many of Pfizer's lead drugs will have their patents run out soon, so generic manufacturers will take over production. There has been significant concern over Pfizer's new drug pipeline or rather lack of to replace these older drugs.

I've a first cousin working in the plant, dropped her a text a min ago to see if she knows anything.
 

Sidewinder

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Oct 23, 2004
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442
RTÉ

Doesn't look too bad actually. At worst, 500 jobs lost out of 2200 in Ireland. Still a nasty blow for all concerned, but could've been a lot worse.

Then again, the company isn't doing well and this could be just the first cut, if their fortunes don't improve by the end of the year.
 

Ponzi

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Apr 15, 2006
Messages
58
Sidewinder said:
RTÉ

Doesn't look too bad actually. At worst, 500 jobs lost out of 2200 in Ireland. Still a nasty blow for all concerned, but could've been a lot worse.

Then again, the company isn't doing well and this could be just the first cut, if their fortunes don't improve by the end of the year.

The multiplier effect on employment in the local economy might be in the range of 2-3 jobs for every Pfizer job.
 

Kev408

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Feb 26, 2006
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5,124
Ponzi said:
Sidewinder said:
RTÉ

Doesn't look too bad actually. At worst, 500 jobs lost out of 2200 in Ireland. Still a nasty blow for all concerned, but could've been a lot worse.

Then again, the company isn't doing well and this could be just the first cut, if their fortunes don't improve by the end of the year.

The multiplier effect on employment in the local economy might be in the range of 2-3 jobs for every Pfizer job.
How could one job in Pfeizer lose 2/3 elsewhere in the local economy?
 

Sidewinder

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Oct 23, 2004
Messages
442
Kev408 said:
Ponzi said:
The multiplier effect on employment in the local economy might be in the range of 2-3 jobs for every Pfizer job.
How could one job in Pfeizer lose 2/3 elsewhere in the local economy?
Basic economics, Kev.

You close down a plant, that plant stops buying from local suppliers. Some small traders will be reliant on their supply deal with the plant, that's just the way things tend to work. Those 500 employees, if they can't get another job quickly, have to cut back on spending. All sorts of shops, sole traders, small firms in the region suffer.

There's always a multiplier effect when a large employer closes or cuts back. Generally, it is assumed that for every direct job created by a large employer, there are another 2 local jobs indirectly reliant on the cash generated by large plants.
 

White Horse

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Jun 13, 2006
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7,064
This is a taste of the type of country Fianna Fail have created.

In decades to come, this Fianna Fail government will be known as the one who destroyed Irish industry.

The government will probably transfer some more public service from Dublin and try to kid the people of Cork that this is a solution.

When will people wake up to what is being done to the economy?
 

Corcaigh33

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Oct 9, 2006
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As a soon to be unemployed employee of Motorola - Cork is getting a hammering lately - it is not looking good for the Minister.
 

Sidewinder

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Corcaigh33 said:
As a soon to be unemployed employee of Motorola - Cork is getting a hammering lately - it is not looking good for the Minister.
Ah yes, the Golden Boy himself. Any rumblings down in the Rebel County yet about his general uselessness?

Didn't he get the highest personal vote in the country in 2002?
 

Corcaigh33

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Oct 9, 2006
Messages
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Sidewinder said:
Corcaigh33 said:
As a soon to be unemployed employee of Motorola - Cork is getting a hammering lately - it is not looking good for the Minister.
Ah yes, the Golden Boy himself. Any rumblings down in the Rebel County yet about his general uselessness?

Didn't he get the highest personal vote in the country in 2002?
I think so...........at the moment the place is reeling a bit...........shades of Ford's, Dunlops, Verolme all over again.

IN our case it will be really difficult to find anything similar in the Cork area.
 

Sidewinder

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Oct 23, 2004
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Corcaigh33 said:
In our case it will be really difficult to find anything similar in the Cork area.
I'm jobhunting at the minute meself. It's definitely a lot tighter out there than it was 2 years ago....
 

Fish

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Jan 29, 2007
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Deleted
 
Last edited:

Johnny

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Apr 29, 2004
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Fish said:
This reminds me of the old saying to be respectful of those on the way up because you may meet them again on the way back down.
Also, the old phrase "Pride cometh before the fall" springs to mind. A fitting description of Celtic Tiger nouveau riche arrogance.
 

HanleyS

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Jan 11, 2007
Messages
817
Fish said:
This reminds me of the old saying to be respectful of those on the way up because you may meet them again on the way back down.
That would be good advice for most Chem Engineers. :p

Pfizer was seen as a blue chip in Cork for the last 30 years or so.

The PRC is taking a few blows these days. Good news on the Quinn/BUPA front for Fermoy though.

The Motorola jobs will be harder to replace. CognoTech in Dublin are due to announce lay-offs at 5.15pm today. Don't think software jobs are any easier to come by up here.

It would be nice if they based a few government contracts in Cork. Sure they have loads of money to throw around. :wink:

I'm based in Leinster btw and in the s/w industry.
 

Clon

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Jan 8, 2007
Messages
5
From what I know of the plants involved one makes Lipitor which is going off patent in the next few years, Walmart are selling a lot of the main generic drugs in the US now for $4 per prescription so a move to very low cost economies for a lot of the generic drugs is always likely.

I believe that the second plant was to be the site for one of Pfizer's new blockbuster drugs, but that failed in drug trials. It's good to see the move towards biopharma here, I have noticed a lot of work on what I believe is the Amgen site ( on the Midleton side of Carrigtohill).

Their is a plan to double the number of PHD students that our Universities take in over the next 6 years, which is badly needed, and their is to be a huge increase in State backed R&D spending which again is vital to maintain a competitive edge and attract better quality research and development jobs, rather than simply plant jobs.

What I would take from all this is the fact that economies and markets are always changing, and just have to adapt better to the changes.
 
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