AstraZeneca to cut 1,600 in U.S., U.K.
By The Associated Press
Published: Tuesday, March 19, 2013, 12:01 a.m.
Struggling Anglo-Swedish drugmaker AstraZeneca PLC said Monday that it will eliminate 1,600 jobs, mostly in the United States and United Kingdom, as its new CEO starts a major research and development reorganization.
The cuts come just weeks after the company reported big drops in revenue and net income for 2012 and forecast continuing difficulties as generic competition hurts sales.
The job reductions amount to nearly 3 percent of AstraZeneca's 57,200 workers.
worldwide and are part of moves affecting several major AstraZeneca sites in the UK, US and Sweden.
Even the global headquarters will be shifted, from London to Cambridge, England, as the company moves many of its scientists near top centers for bioscience research. Rivals have been doing the same, to be near those talent pools and to increase collaborations with scientists at universities and small biotech companies.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- That’s a Jeep Cherokee? No retro in 2014 model
- Consol cuts office workers after Murray deal
- PNC to pay $81M to Freddie Mac to resolve problem mortgages
- Pennsylvania, other states considering bids to host Boeing 777X production
- Mustang celebrates 50th in grand style
- American Eagle Outfitters’ quarterly profit down 68 percent
- Sears to spin off Lands’ End business
- Mercedes offers luxury for the rest of us
- Market rebounds on strong jobs news