NEW YORK (CNNMoney.com) -- Pharmaceutical giant Pfizer said Tuesday that it will reduce its staff by another 6,000 jobs and shut down eight factories in its ongoing mission to cut costs in the wake of its merger with Wyeth.
This is just the most recent wave of cuts and closures, as the company aims to reduce costs by up to $5 billion by the end of 2012.
The eight factories being closed in this round are located in the United States, Puerto Rico and Ireland, according to the drugmaker.
More specifically, the drugmaker said it would shut down manufacturing at its Richmond, Va., plant and at two cities in New York: Rouses Point, near the Canadian border, and Pearl River near New York City, where Pfizer is headquartered. However, the drugmaker will continue to conduct research and development at the sites in Richmond and the Pearl River plant, which it acquired from Wyeth.
"This is unexpected and does not bode well for local or global economic recovery," said C. Scott Vanderhoef, chief economic officer for Rockland County, where Pearl River is located.
Vanderhoef said that Pfizer plans to eliminate 1,250 jobs at the Pearl River plant by 2014 - a number that the company confirmed.
Pfizer's factory closures include shut-downs in three Irish cities -- Loughbeg, Shanbally and Dublin -- as well as two cities in Puerto Rico -- Caguas and Carolina.
In addition, the company plans to "reduce operations" at six other plants in the U.S., Puerto Rico and Ireland, as well as in Germany and the United Kingdom.
Pfizer completed its acquisition of Wyeth on Oct. 15, 2009. Since then, the workforce has been reduced by 6,900 workers, primarily in manufacturing and R&D, according to a May 4 announcement.
Pfizer spokesman Ray Kerins said the total current workforce is approximately 113,800, down from 138,000 people that were employed by both companies in 2008. He said the company plans to reduce the total to 107,800 in five years.
Walmart, Target and Kroger's profit is taking a hit as they fight to reach shoppers online. More
Get ready for sticker shock at the gas station if you're one of the estimated 41.5 million Americans hitting the roads this Memorial Day weekend. More
It's normal for car prices to rise with options. But the Model 3's price reaches much farther than most. More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More
It mostly boils down to confusion, commissions, and fees. More