Joan Campion, a spokesperson for Pfizer Inc., tells Globest.comthat as part of the consolidation program an unspecified number ofemployees will be laid off or relocated from 685 Third Ave., to itsheadquarters building at 235 East 42nd St. or to operations itmaintains at 219 East 42nd St. Some workers will also be relocatedto Madison, NJ, Peapack, NJ, College Hill, PA and other Pfizerproperties in New York.

It is believed that CB Richard Ellis has been given theassignment to market 685 Third Ave., a 650,000-sf building, forsale.

While reports have surfaced that as many as 1,400 Pfizeremployees could be laid off or relocated, Campion infers that amajority of the workers will be relocated rather than terminated.While she could not provide specifics on the workforce reductionsplanned as part of the consolidation, Campion adds, "Most of thefunctions will most likely be transferred to other Pfizerlocations, even if it is in another location in New York City. Thisis more real estate driven and square footage driven thanworkforce-related."