New Layoffs Announced Today - To Wall Street

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The one-time costs to achieve the savings associated with the first phase of the program are expected to be approximately $1.7 billion and primarily include severance and implementation costs. These costs will be recorded primarily in 2024, with cash outlays expected in 2025 and 2026.
 








This is not really a surprise. Last year the savings was primarily associated with physical capital in selling of physical assets. This was gonna be the year to reduce human capital.
My gut tells me that leadership’s focus on the dozen growth brands and quickly putting investment in just those brands tells the story.
If it’s not one of those brands highlighted, then it’s going to be looked at from top to bottom.
All of the brands mentioned were in I&I, Rare Disease and Vaccines, plus Eliquis and Nurtec ODT.
 




Sadly for those who help pull in the revenue, to Pfizer you are just a "cost" to be dealt with, despite their poor guidance and leadership. Political correctness always has a cost, as does lack of insight and bad R&D.
 
















How about this for cost savings…cut all drug research spend…exactly what have we gotten from internal research? Stick to buying companies with products on the market or late stage research products, cut all internal research spend
 




Certainly not a bad idea. I’ve been following Pfizer for over 30 years and they have touted the pipeline the whole time. It is produced very little and to your point or biggest selling products have been acquired by purchasing other companies.
 




anonymous said:
How about this for cost savings…cut all drug research spend…exactly what have we gotten from internal research? Stick to buying companies with products on the market or late stage research products, cut all internal research spend
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This could work, but we would mess it up. We would fire the leadership from the newly acquired company and insert one of our "usual suspect" lackeys as the head of the new division. Two years later, there would be layoffs because revenue fell far short of expectations.
 
































anonymous said:
Technically yes. But nobody outside of us thinks of Pfizer when you say oncology.
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Pfizer thinks you can buy something and automatically become that thing. Buying assets in oncology doesn’t make PFE an oncology leader. Same with vaccines.
It’s like a 50 year old dude wearing a Kobe jersey. A fan, a wannabe but not real
 








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