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For the second time this month, the pharmaceutical giant Pfizer made news with a big downsizing. The New York-based company today announced that it will buy rival drug maker Wyeth for $68 billion and cut 8,000 employees.
It is not known whether Pfizer’s San Diego operation, which employs more than 800, will be affected by the cuts. One local industry watcher reasons that more layoffs at the San Diego plant, which specializes in the research and development of oncology drugs, are unlikely given that it reportedly will lose around 80 employees in a separate downsizing revealed just two weeks ago.
“My own hunch is that there won’t be further impact here,” said Zhu Shen, a local consultant for the pharmaceutical industry. “I would think the sales force is most vulnerable in this round.”