Roche to Cut 4,800 Jobs
According to FT.com, Roche will cut 4,800 jobs – 6 percent of its workforce – to save $2.41 billion per year as the Swiss pharmaceuticals group became the latest drugs company to react to a tougher market. The job cuts were foreshadowed in September and will be implemented in 2011 and 2012. Including 700 positions that are to be transferred to third-party outsourcers, the job cuts amount to 5,500 – or nearly 7 percent of Roche’s 82,000 workforce. The bulk of the losses will be in sales and marketing, where Roche will eliminate 2,650 positions, reflecting recent setbacks in drug development as well as market changes. A further 750 jobs will be lost in manufacturing, and 600 in research and development.