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.”

Copyright 2012 Thomson Reuters. Click for restrictions.


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com