In addition, in the fourth quarter of 2023, Pfizer announced that the company has launched a multi-year, enterprise-wide "cost realignment program" that will realign its costs with its longer-term revenue expectations. The program is expected to deliver targeted savings of at least $3.5 billion, of which $1.0 billion is expected to be realized in 2023 and an additional $2.5 billion is expected to be realized in 2024.
Translation: thousands are about to lose their jobs.