By Emon Reiser
Pfizer’s closure of its facility in Peapack, N.J., will affect the jobs of 791 workers, according to a Workers Adjustment and Retraining Notification filed with the state.
Many of the employees will be reassigned to Pfizer’s New York headquarters at 66 Hudson Yards, the pharmaceutical company said. A small number of the workers will move to the company’s Parsippany, N.J., site, Pfizer said.
In 2021, Pfizer announced that it would sell the Peapack campus. The closure is expected Feb. 12, 2024.
“We have been determining the best approach for this site for the past couple of years,” Pfizer said. “A decision was made to close the site and as such, we have informed colleagues that all positions would be relocating to other Pfizer facilities.”
Pfizer announced workforce cuts last month as it slashed its revenue guidance for the year by $9 billion, to between $58 billion and $61 billion, with sales of its Covid-19 vaccine drying up.
Write to Emon Reiser at [email protected]
Corrections & Amplifications
This article was corrected at 2:22 p.m. ET. Pfizer’s closure of its facility in Peapack, N.J., will affect the jobs of 791 workers. The original version in this article incorrectly said the number was 781.
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