US-based pharmaceutical giant Pfizer is set to cut hundreds of jobs in Switzerland as part of the company's multi-year cost reduction program, reported the news agency Bloomberg, citing people aware of the development on Wednesday, 10 December 2025.
According to the agency report, the pharma giant plans to cut its Switzerland workforce down to nearly 70 by the end of 2025, compared to its current 300 levels. This job cut move marks the company's plan to lay off more than 200 people by the year's end amid cost-cutting plans.
Pfizer's job cuts come after a broader downgrade of Pfizer’s Swiss unit within the company, reported the news agency, citing the people aware of the development.
Pfizer's path to growth
Earlier in December 2025, Pfizer’s head of Switzerland operations, Sabine Bruckner, was replaced by Rea Lal, who is now leading the company's operations with a diminished mandate, according to the people cited in the news report.
Bruckner took a new position in the pharma giant itself. The New York-based pharmaceutical giant, Pfizer, is trying to work its way to future growth after the COVID-19 global pandemic. The company's multi-year cost reduction program is to cut $7 billion through the year 2027.
According to the news agency's report, the company is “streamlining and realigning” its resources to reduce complexity in operations, reported the news agency, citing a company spokesperson through an emailed statement.
The company refused to comment on specific layoff figures for its Switzerland job cuts, as per the agency report.
This move comes as the company's Switzerland business loses its luster for some multinationals as it started to apply a new corporate tax regime. And Pfizer's layoffs add to a list of pharma companies which are reducing their footprint in Switzerland, whose biggest export industry is pharmaceuticals.
According to the agency report, in November 2025, Novartis AG announced it would cut as many as 550 Swiss jobs due to an automation push.
Pfizer stock was trading 0.57% higher at $25.48 as of 12:33 p.m. (EDT) during Wednesday's US stock market session, compared to $25.33 at the previous market close, according to the data collected from MarketWatch.
