Pfizer permanently laid off 100 employees at the former Seagen campus in Bothell on Monday, according to a notice filed with the state’s Employment Security Department.
A Pfizer spokesperson said Tuesday that the company is improving its productivity and efficiency for research and development, along with simplifying the way it works through digital enablement and automation, to “deliver the greatest impact for patients.”
“All job-related decisions have and will be made with transparency, compassion, and respect, and in compliance with applicable laws. Pfizer does not take these changes lightly,” the spokesperson said.
The pharmaceutical company didn’t respond to questions about the roles impacted by the layoffs and what assistance is offered.
Pfizer became a household name around the world during the COVID pandemic when it developed a vaccine for the virus, and it’s since made waves locally with its 2023 acquisition of Seagen in Bothell.
Seagen — once known as Seattle Genetics — is a biotechnology company that specializes in cancer treatment. The news of Pfizer’s plan to buy the Bothell-based firm for $43 billion broke in March 2023.
With Pfizer seeking to turn its attention to oncology, the deal closed in December 2023.
“With one of the largest investments in Pfizer’s history, we are going all in on cancer with the goal of delivering breakthroughs that drastically improve the lives of people with cancer,” said Albert Bourla, Pfizer chairman and CEO, in a statement announcing the acquisition. “We believe Oncology will be a significant growth driver for Pfizer and contribute meaningfully to the achievement of our near- and long-term financial goals.”
Soon after, in April 2024, Pfizer shut down construction on Seagen’s 270,000-square-foot manufacturing plant in Everett; it laid off 119 of those workers in June that year. Instead, the company pivoted to using its plant in North Carolina.
In addition to Seagen, other Pfizer’s recent acquisitions included Arena Pharmaceuticals, ReViral and Global Blood Therapeutics.
Pfizer reported $63.6 billion in total revenues for 2024, which marked a 7% boost for operational growth year over year. It anticipated that its cost cutting initiatives will result in net savings of $4.5 billion by the year’s end.
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