Company That Made $100 Billion Off COVID Laying Off Many In New York
A company that recently had record profits confirmed plans to lay off many New York State residents just after the holidays.
Many Hudson Valley workers are being told they will soon be out of a job.
Pfizer Laying Off Workers From Pearl River, New York Location
According to a required WARN notice, Pfizer is set to lay off nearly 300 workers from its Rockland County, New York location.
Separations for 285 employees are expected to start on February 12, 2024. All 285 will be out of work by March 25, according to the WARN notice.
Pfizer employs 1,012 workers in Pearl River. The remaining 72 percent of the current staff is safe, for now.
Reason For Massive Layoffs
A full reason for the massive layoffs wasn't given. But the WARN notice states "Reason For Layoff/Closure" is "Economic."
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Thanks to its COVID vaccine, the company was very profitable during the pandemic but has seen an economic downturn as of late.
Pfizer Announced Record Profit In 2022
Last January, Pfizer reported earning a record $100 billion in 2022. The record earnings were driven by Pfizer's COVID vaccine and its antiviral pill Paxlovid.
The company said it expected revenue to decline by as much as 33 percent in 2023, CNBC reports.
During the peak of the COVID pandemic over 100 businesses closed across the Hudson Valley. See the full list below: