AstraZeneca cuts 250 jobs at Macclesfield plant
ASTRAZENECA has announced a further 1,400 job cuts, including 250 in Macclesfield, amid increased competition from generic drugs.
The pharmaceutical group said it also plans to close plants in Spain, Belgium and Sweden by 2013, but it will expand its operation in China.
The business, which also has a research facility at Alderley Edge, has already cut 700 jobs in Macclesfield as part of an earlier programme to shed 7,600 staff by 2010.
That round of redundancies was also prompted by the affect on revenues of cheaper, generic drugs. AstraZeneca said full-year earnings would be at the low end of the company’s forecast because this competition.
Last month the group reported a 29% rise in pre-tax profit to $2.4bn (£1.4bn). Turnover rose 9% to $7.7bn (£4.7bn). Earnings per share in the quarter were $1.20 (73p), up 33% on last year.
