Pfizer ($PFE) CEO Ian Read has vowed to cut $1 billion in operating expenses at the drugmaker this year, and one way he plans to do that appears to be by reducing severance packages, Bloomberg reports. Employees of Pfizer ($PFE) in the U.S. got a chilling notice from their employer that, if they get pink slips, they can expect basic severance pay to drop from 12 weeks to 8 weeks and heath benefits to run dry after 8 weeks instead of a year. The notice comes after the world's biggest drug company has laid off 26,000 employees over the past three years. Article