Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Pfizer, a multi-national pharmaceutical firm, has announced that it is to close its manufacturing site in Sandwich, Kent, with the loss of 420 jobs. The company has stated the decision was the result of ongoing consolidation of its global manufacturing operations. Pfizer has also cut jobs in sales, and research and development (R&D), since 2005. Its European R&D headquarters remain in Sandwich, employing 3,500 people.
Pfizer stated that the job losses would be phased in until September 2009.
Tony Maddaluna, vice-president of Pfizer Global Manufacturing, stated: 'It is with regret that we announce our decision to end manufacturing operations in Sandwich after 53 years. This is the latest in a number of global manufacturing changes, to ensure we are operating as efficiently and effectively as possible.'
Pfizer said it would work closely with other bodies to 'mitigate the impact on colleagues and the local community', especially offering support for redeployment or re-training.
Mr Ladyman, Labour MP for South Thanet, said: 'I know Pfizer will do its best to redeploy as many people as possible, but that will be little comfort to those who will lose their jobs. The hard-working men and women have made a massive contribution to the growth of Pfizer... and this is no way for the company to treat them.'
Pfizer said the closure was no reflection on the performance of a 'talented and skilled workforce'.
Eurofound (2007), Pfizer, Closure in United Kingdom, factsheet number 65794, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65794.