Article: Layoffs loom as recession deepens

FROM NEWS SERVICE REPORTS
The Record (Bergen County, NJ)
01-14-2009

Layoffs loom as recession deepens -- Pfizer among companies making cuts
FROM NEWS SERVICE REPORTS
Date: 01-14-2009, Wednesday
Section: BUSINESS
Edtion: All Editions

Pharmaceutical, retail and financial companies announced layoffs Tuesday as the worldwide recession deepened.

Pfizer Inc., the world's biggest drug company, is laying off up to 800 scientists this year in its latest effort to refocus disappointing research efforts and cut its massive overhead ahead of an anticipated crash in revenue.

New York-based Pfizer, which has facilities in New Jersey, plans to reduce its global research staff currently about 10,000 people by 5 ...

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