PFIZER TO BUY OUT WYETH IN $68Bil DEAL by Ken Mahoney

PFIZER TO BUY OUT WYETH IN $68 Bil DEAL by Ken Maoney

Wyeth Pharmaceuticals has agreed to a $68 billon dollar Pfizer buyout; a move that may threaten jobs at the company’s Pearl River factory. As Rockland’s largest private sector employer, Wyeth contributes 3100 jobs to the local economy. No one’s sure how many of those will be eliminated in Pfizer’s post acquisition plan to cut 15% of its workforce- that's a total of 19,000 positions. The takeover’s not expected to officially begin until late third quarter.