Pfizer to lay off 285 workers in Pearl River

Pfizer is set to lay off 285 workers in Pearl River, according to a state Department of Labor Worker Adjustment and Retraining Notification (WARN notice).
The drug maker's cuts will begin Feb. 12 and end March 25.
There are 1,012 employees at the Pearl River campus total, so the layoffs will be about 28% of the workforce.
Pfizer describes the reasons for the layoff as economic.
The company did well during the pandemic, but has been struggling since.
Stock data shows a high point in 2021, but then a fall downward in 2023.
Pfizer issued a comment which says, "As previously communicated, Pfizer has launched an enterprise-wide cost realignment program. Various areas of Pfizer’s global enterprise are making changes to operate more efficiently and effectively. These changes are being implemented on a rolling basis and will differ area to area. Part of the effort will result in some job loss across a number of our locations, including our Pearl River, NY site. All job-related decisions have and will be made with transparency, compassion, and respect, and in compliance with applicable laws. A generous separation package will be offered to U.S. colleagues whose roles are eliminated and each will continue to have the opportunity to post for internal Pfizer roles."