The largest pharmaceutical company in the world, Pfizer, has taken the decision to cut or relocate 1,400 of pharmaceutical jobs in New York City. This decision comes seven years after the pharma company received millions of dollars in tax breaks to create pharmaceutical jobs in the city.
The move is set to help the pharmaceutical companies aim of reducing its digital footprint worldwide. The pharma company has been based in New York City since 1849.
A spokesman from Pfizer, Chris Loder has announced that the pharma company has decided to sell its New York premises and move its pharmaceutical staff elsewhere. However, he did say, “Pfizer is committed to maintaining a significant presence in New York City as we have for the past 150 years.”
The pharmaceutical jobs will be moved to Madison, N.J., Peapack, N.J., or Collegeville, Pa., while others would be consolidated into existing company properties in Manhattan. Loder said New York City will continue to be headquarters for Pfizer’s primary care, oncology, emerging markets and established products business units.
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