THE drugs giant Pfizer has said it is not prepared to comment on media speculation that the company is preparing to cut several thousand jobs next week.

The company has its European headquarters for research and development at Sandwich, near Deal, and employs around 3,600 at the site.

Reports in the American media suggest Pfizer is planning to cut jobs and close down some of its plants.

Vanessa Davies, from Pfizer, said an analysts meeting is being held in New York on Monday to announce the results of a three month business review.

She added: “We would not comment on any speculation about job losses and would certainly not announce anything until we had spoken to staff."