Pfizer CEO Says Job Losses Inevitable with Potential Astrazeneca Merger and AT&T may Buy DirecTV for close to $50B
Pfizer Inc. (NYSE: PFE) CEO Ian Read has acknowledged that in part of a $106 billion take over bid of AstraZeneca, the potential merger would lead to job losses. Read has promised however to keep key research jobs in Britain. No specifics were given on where the cuts may take place. He told skeptical lawmakers that the company would still keep 20% of its global research and development workforce in the U.K. "There will be some job cuts somewhere, that's part of being more efficient," he said. "Whereabouts in the world I cannot say." Pfizer Inc., a biopharmaceutical company, discovers,