Pharma giant AstraZeneca to cut 7,300 jobs
INTERNATIONAL pharmaceutical group AstraZeneca, which has more than 6,000 staff in the North West, plans to cut 7,300 from its global workforce in a move to boost productivity and cut costs by £1bn a year.
The news came as the Anglo-Swedish group announced a fall in profits for the last quarter of 2011 to $2.05bn compared with $2.28bn in 2010. Sales were flat at $8.55bn.
AZ employs 3,500 scientists involved in cancer research at the Alderley Park development centre near Alderley Edge and 2,600 in manufacturing at nearby Macclesfield.
The GMB union claimed that 350 R&D posts at Alderley Park would be affected, but this has not been confirmed by the company.
Staff were due to be told of the impact of the latest round of cuts – due to take effect over the next two years – today. The company, which has seen earnings hit by the expiration of patents and price pressure from governments, announced 9,000 job cuts in 2010.
Chief executive David Brennan said: “While the further expected losses of market exclusivity make for a challenging 2012 outlook, we remain committed to a long-term, focused, R&D based strategy, and today we have announced further steps to drive productivity in all areas to improve returns on our investment in innovation.”
