AstraZeneca to cut 2,300 jobs
- Photos (1)
Struggling drug company AstraZeneca PLC says it will cut some 2,300 jobs worldwide as part of a restructuring plan.
LONDON -- Struggling drug company AstraZeneca PLC says it will cut some 2,300 jobs worldwide as part of a restructuring plan.
The company said Thursday the cuts are in addition to a previously announced program cutting 1,600 positions related to research and development announced March 18 and the elimination of 1,150 positions announced last year.
A company statement indicates the elimination of these positions will result in a one-time $2.3 billion restructuring charge.
The company anticipates the cuts will produce benefits of about $800 million per year by 2016.
New CEO Pacal Soriot said the company's goal is to be a global firm with a "focused portfolio in core therapy areas."
The company's finances have been hurt as generic competition has damaged sales.
- Share Facebook Twitter
Article sent to (required)E-mail
Article sent from (required)E-mail Name
Subject Line (article title)
Message (optional)Success - Article sent Click to close
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.Need more information about reprints? Visit our Reprints Section for more details.
Contact information ( * required )Name * Company Telephone * E-mail *
Article InformationTitle URL
Message (optional)Success - Reprint request sent Click to close