New boss may make job cuts at Pfizer

Jeffery Kindler, the new chief executive of USA based drug giant Pfizer, may be about to announce a series of job cuts according to speculation reported in the Wall Street Journal. The cutbacks could form part of Mr Kindler's predicted overhaul of the firm, which analysts believe will see it change its approach to drug development, manufacture and marketing.

The news follows a similar story in the Boston Globe, which forecast that the firm may reduce its annual spending $2.0 billion by carrying out a 10% cut in staffing levels. In the article, Deutsche Bank analyst Barbara Ryan is quoted as saying that the company may announce the cuts at its upcoming analyst meeting, scheduled for January 22.