Pfizer/Wyeth Merge; 8000 Jobs Gone!!! Crucell Deal Out!
January 26, 2009 at 8:34 am EST | Tags: Deals & Alliances, Economy & Layoffs, Mergers & Acquisitions
Good
for investors and future revenue growth – bad for employees. It’s a
done deal – Pfizer and Wyeth are merging, but at what cost? Just hours
after the boards agree to merge companies, Pfizer announced
it would can 8000 of its employees in manufacturing, admin, sales and
research!!! Yikes!!!!!!!!!!
Not only that, Pfizer has been in a legal battle for some time and announced that it ate a $2.3 billion settlement for illegal marketing practices. Double yikes!!!
Finally, the Wyeth/Crucell deal is dead.
What a Monday. Looks to me like Crucell lucked out…stay away from these guys. It’s only gonna get worse!
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