Monday, January 26, 2009
Pfizer takes over Wyeth...how many lost jobs in Canada?
For a mere $68 billion, Pfizer will take over its rival Wyeth. Both have multiple facilities in Canada. Some have suggested that nearly 10% of the workforce will be let go over the coming months as synergies are found between the two giants. Clearly Canadians won't be left out of the downsizing mania that has hit all industries, with the exception of Bio-tech. If we in the biotech industry thought we were safe from the global recession, we see this as a wake-up call. We need to keep sharp, and have our resumes up to date just in case.