Pfizer cutting sales staff: report

Pfizer Inc. is reportedly moving to cut some of its U.S. sales staff.

According to Reuters, the company is preparing to move to remote interactions with health care professionals, eliminating the need for several roles.

"We are evolving into a more focused and innovative biopharma company, and evolving the way we engage with healthcare professionals in an increasingly digital world," the company said in a statement to the news service. "There will be some changes to our workforce to ensure we have the right expertise and resources in place to meet our evolving needs."

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While Pfizer did not specify how many jobs will be cut, a source told Reuters that hundreds of jobs are expected to be shed.

New positions will also be developed, however, the source added.

The company is expected to report strong sales of its COVID-19 vaccine in 2021, Reuters noted, adding that Pfizer is expected to announce that brought in more than $80 billion in revenue due to the vaccine within the past year.

Analyst estimates also reportedly anticipate that Pfizer's revenue will top $100 billion this year.

Nearly half of the company's projected 2022 sales are expected to come from its oral COVID-19 treatment, Paxlovid, in addition to the COVID-19 vaccine, according to Reuters.