Pfizer is way, way too focused only on short-term goals. They've made layoffs a means to a quarterly profits bump end. It's destroying morale and people's faith in the company.
What we actually need is a proper vision and long-term strategy. Laying off best employees can and will backfire. They are the company's biggest asset when utilized properly. Unfortunately, this management has no idea how to use its biggest strengths.
It's much easier to simply drift along and use layoffs whenever shareholders become nervous.