updated 1/16/2007 8:53:00 AM ET 2007-01-16T13:53:00

Pfizer Inc.’s new chief executive is preparing a restructuring plan that could include cutting several thousand jobs and changing the way the drug maker develops, makes and markets products, The Wall Street Journal reported on Tuesday.

Citing people close to the situation, the Journal said employees at the world’s largest drug maker were bracing for deep cutbacks when Chief Executive Jeffrey Kindler presents analysts with some specifics on his plan.

Kindler has not finalized some of his decisions and could change his mind about others in the week before his presentation, the paper also said.

Paul Fitzhenry, a company spokesman, declined to comment on the report.

Regarding Monday’s upcoming meeting with analysts, Fitzhenry said: “It’ll be an update on the strategic review that we’ve been undertaking for the past several months. And we will be outlining our plans based on that review.”

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