Pfizer to Shut Down Two Facilities Amid Major Cost Cuts

Pfizer is slated to shut down two plants in North Carolina after slashing guidance.

Pfizer CEO Albert Bourla gestures during a session at the World Economic Forum annual meeting in Davos, Switzerland, on May 25, 2022. Fabrice Coffrini/AFP via Getty Images

Pharmaceutical giant Pfizer confirmed it will be closing down two of its facilities in North Carolina amid a cost-cutting initiative after it revealed that sales of its COVID-19 vaccine and other products would see a drop.

The company told multiple local media outlets that it would be closing its sites in Durham and Morrisville, saying the closures are part of an effort “to operate more efficiently and effectively.”