Pfizer has been trying to turn its financial woes around for at least 5 years. It has lost patent protection, and thus significant sources of revenue, in at least 10 products. The mother of them all, Lipitor, is just up ahead. The sever restructuring this has triggered, i.e., head count reductions, have gutted this company of talented personnel. If people are a company's most value assets, I am having a hard time seeing how that is being factor in decisions involving massive layoffs. We have gone from 94 manufacturing plants globally just 5 years ago to less than 40 by year's end. Manufacturing sites have become sourcing sites that compete with each other to remain part of the manufacturing network. How can US sites compete, cost-wise, with sites in India or China???? I see US sites "running scared" and that fear paralyzes decision-making and discourages innovation. Pfizer is shrinking and with it the necessary incentives for its employees to be engaged.
