AstraZeneca to cut 1,600 in U.S., U.K.
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.
- Jump in home loans, trading commissions lead to profitable 1st quarter for banks
- Google’s changes to search results formula expected to shake up mobile economy
- Is Big Brother a backseat driver?
- Renewed fears of Greek default whack stock market
- Mylan discounts speculation of a possible takeover by Teva
- Here’s how to clean your car
- Pa. employers shed 12,700 jobs in March; unemployment rate rises to 5.3 percent
- Review: Chevrolet Trax is an affordable SUV option
- Glaxo to close Moon office, affecting 274 workers
- PPG axes 1,700 jobs as part of global restructuring
- Hearings set on new environmental rules for gas, oil drilling in Pa.