Exerpt from the Ann Arbor Business Reivew, 4/6/2007

Pfizer's Ann Arbor operation will lose about 75 percent of its employees by the end of the year, David Canter, Pfizer's senior vice president, said this morning.

Canter told a group at an Ypsilanti Chamber of Commerce event that Pfizer is projecting about half of Ann Arbor workers would be gone by September. The company expects to have about 500 people working at the Ann Arbor facility by the end of the year.

Canter said Pfizer is offering a severance package that includes 13 weeks of salary in addition to three weeks of salary for each year of service. An employee could be compensated for up to two years of pay. Canter described the offer as four times the average buyout offer for an American company.

Read the rest of the article here.