More jobs go as sales stall at AstraZeneca
DRUGMAKER AstraZeneca has seen its full-year pre-tax profits rise 9% to $8.6bn (£6bn) but a slowdown in sales means further job cuts.
The multinational, which employs staff in Macclesfield and Alderly Edge, said it was increasing its rationalisation programme to cover a further 6,000 staff, taking the total to 15,000 – 23% of the workforce.
The group, under pressure from generic drug competition, did not say where the axe will fall.
It employs 2,000 staff at a manufacturing facility in Macclesfield and 4,000 at its research and development centre in Alderly Edge.
Today’s statement follows the announcement of 7,600 cuts in 2007 and 1,400 unveiled in November. The group wants to reduce its workforce by 15,000 by 2013, saving $2.5bn a year.
Some 250 staff in Macclesfield were earmarked for redundancy in November and 700 jobs were lost at the site as part of the 2007 announcement.
In a statement to the stock market the group said annual sales were higher, up 7% at $31bn (£21.6bn), but income in the last quarter was static while profits dropped 1% to $1.8bn (£1.25bn).
Earnings per share, excluding some items, rose 13% to $1.25, beating analysts’ expectations.
