Pfizer: I said they'd cut more and analysts are now confirming
On January 3 I was quoted in the magazine Nature, saying the following:
Peter Rost, a company gadfly and former Pfizer marketing vice-president, now in litigation with the firm over the circumstances of his departure in 2005, is more direct. “It’s very likely that Pfizer is going to pull back on personnel in all areas, including research,”he says. Rost’s blog, http://peterrost.blogspot.com, has been abuzz with chat on the circumstances and implications of the trial failure . . .
Looks like I wasn't too far off the mark. News have been getting out that Pfizer may tell investors this month the company will be firing 10 percent of its workforce and cutting its research budget. Pfizer may announce the reductions in its $7 billion research budget and a workforce of about 100,000 people at a Jan. 22 analyst meeting, said Deutsche Bank analyst Barbara Ryan. Bloomberg has the story. But you heard it here already ten days ago