“Pfizer is adding $2.5 billion in cuts to an ongoing restructuring, with much of the new reduction coming from technology and simplification efforts across the New York pharma’s commercial, R&D and manufacturing functions.
The cuts under Pfizer’s Realigning Our Cost Base Program are expected to save $1 billion, the company announced Aug. 4 in its second-quarter earnings release. Most savings will occur between 2027 and 2029, but not for free: the program carries a one-time cost of $2 billion for digital enablement, implementation and severance.
A company spokesperson declined to give further details on how severance will be paid, whether any jobs will be affected, or what technological changes are planned.”