AstraZenca annouce job losses2nd February 2012
Drugs manufacturer AstraZeneca has announced that it is to axe 7,300 jobs over the next two years.
It is understood that there will be up to 300 cuts in research and development at the Anglo-Swedish firms Alderley Park site in Cheshire, with further cuts at other sites in this country as part of a major restructuring programme by the company.
It follows the announcement by AstraZeneca of a fall in pre-tax profits for the three months to the end of December to $2.05bn (£1.32bn) compared with $2.28bn in 2010. Profit for the financial year was up to $12.37bn from $10.97bn the year before.
AstraZeneca is this country’s second biggest drugs manufacturer with 8,000 of its 61,000 global workforce employed in the UK at sites such as Alderley Park, Avonmouth near Bristol, Brixham in Devon, and London as well as with affiliated companies in Liverpool, Cambridge and Luton.
Blaming increased competition for the fall in fourth quarter profits, 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 have announced further steps to drive productivity in all areas.”
AstraZeneca has shed thousands of jobs in two previous restructuring moves and the GMB union now fears further job losses will damage the UK economy.
Drug development by AstraZeneca has faced problems in recent times. In December, it scrapped an ovarian cancer drug and took a significant loss on an experimental antidepressant.
Share this page
There are no comments for this article, be the first to comment!
Post your comment
Only registered users can comment. Fill in your e-mail address for quick registration.
Title: AstraZenca annouce job losses
Author: Mark Nicholls
Article Id: 20951
Date Added: 2nd Feb 2012