Pfizer plans to cut 300 jobs

The logo for Pfizer is displayed on a trading post on the floor of the New York Stock Exchange,Thursday, Oct. 29, 2015. Allergan, which makes Botox, jumped 8 percent after saying it has held talks with Pfizer about a sale. (AP Photo/Richard Drew)

(WTNH) — It looks like job cuts are coming to Pfizer.

It’s due to the company’s decision to abandon new treatment options for Alzheimer’s and Parkinson’s.

Pfizer plants to eliminate about 300 jobs in Connecticut and Massachusetts.

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Those layoffs are expected to take place over the next several months.

Pfizer says it will use the savings to fund drug research and development in other areas.

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