January 22, 2007

Michigan Can Not Catch A Break

Michigan is having a very bad time of it right now, with the auto industries being it's main industry. Unemployment is 7.1%, the highest in the country, who has an unemployment rate of 4.1% (at last check).

Now Pfizer announces this:

Pfizer Inc. announced Monday it will cut 10,000 jobs, as the world's largest drugmaker seeks to cut costs by up to $2 billion a year amid fierce competition from generic drugs.

The company plans to close three research sites in Michigan and two manufacturing plants in New York and Nebraska. It may also sell another manufacturing site in Germany and close research sites in Japan and France. (emphsis mine)

Pfizers research facilities are in Ann Arbor, they supply a lot of revenue to Ann Arbor and a lot of jobs will be lost.

Posted by Quality Weenie at January 22, 2007 01:57 PM | TrackBack

They were one of the companies I interviewed with. Thank GOODNESS I didn't get that job!

See, sometimes it's good not to get it!!

(trying to be encouraging.....)

Posted by: Tammi at January 22, 2007 05:40 PM

I wonder how much of this cutback is because of the Democrat's constant war againts "Big Pharma"?
I was kinda hoping for some new meds to come along before my tremors get too bad for me to feed myself.
I love Pfizer and hate Democrats.

Posted by: Peter at January 22, 2007 07:47 PM

Peter beat me to it. They are the *evil* pharmaceutical company... there will be dancing with joy from the left over their financial woes (cause - hey - they're sooooo rich it's great to see them lose it). Then they'll be criticized for laying people off... *sigh*

BTW *tag* - you've been memed!

Posted by: Teresa at January 22, 2007 11:04 PM

And don't forget the Wolverines problems...

Posted by: Ogre at January 23, 2007 03:04 PM