Name: Pfizer Offers Early Retirement Ahead of Layoffs
Uploaded: 2018-10-17
Duration: 1 min 6 s
Description: In a recent memo to employees.

Pfizer Offers Early Retirement Ahead of Layoffs

drug giant Pfizer announced to employees the company will be offering early retirement to U. S workers ahead of layoffs. According to CNBC, the pharmaceutical company shared the news internally to employees, even though the number of people that will be laid off is still unknown. Pfizer spokeswoman Sally Beattie says the company is attempting to have a simpler, more efficient structure and that they are offering enhancements to certain benefits to lessen this effect. The voluntary early retirement packages pay a base salary of 12 weeks, plus three weeks of salary for every year of work up to 104 weeks. The layoffs will reportedly start early next year. This comes on the heels of another big announcement for the company. Albert Bourla will be succeeding Ian Read as CEO starting January 1st 2019.