Boston, MA 10/02/2013 (wallstreetpr) – Pfizer, Inc.’s (NYSE:PFE) contributions in the field of medical research and healthcare industry can never be ignored. It is a renowned biopharmaceutical company and has marked its operating presence in all across the globe. The company since past few years is however concentrating on reducing costs and in the process it is taking some stringent measures of closing down operations of some of its business units. Pfizer, has been finding out units which are not much efficient and effective and which do not help contribute to company’s growth. The company has a large portfolio of biopharmaceutical products which roll out from its thousands of manufacturing units present globally. However, it is always a wise decision not to retain the units which contribute to operating loss of the company. Pfizer recently announced the closure of its Sydney based manufacturing plant and it will be given shape in 2015.
Of late Pfizer Australia, announced its plans to stop the operations of Sydney’s West Ryde Plant from the year 2015. A part of the plant’s workforce will be relocated to the other business units of the country. Relocating employees have already started and a significant number of employees have been placed in several units of Australia. However, the rest of the employees will lose their employment with the pharmaceutical major although their job won’t be affected until the closure of the plant. Pfizer Australia, which currently employs around 1600 people, has its other manufacturing unit at Perth which will continue its normal course of operations.
The complete closure of the West Ryde Plant will however not impact meeting the demand of medicines across the globe. Pfizer will also concentrate on modernizing some of its old units to align with the present business strategy of the company.
