Sunday, December 28, 2014

AstraZeneca to cut 1,150 more jobs

AstraZeneca, which has its U.S. headquarters in Wilmington, said Wednesday it will cut 1,150 more jobs from leadership and sales positions around the United States.

AstraZeneca to cut 1,150 more jobs

AstraZeneca, which has its U.S. headquarters in Wilmington, said Wednesday it will cut 1,150 more jobs from leadership and sales positions around the United States.

The company said that this batch of layoffs is distinct from earlier announcements and will account for roughly 24 percent of the company’s sales organization in the United States. The reductions in jobs will also vary by what the company calls "selling teams."

“These are difficult decisions that impact valued employees,” Rich Fante, president of AstraZeneca U.S., said in a statement. “The changes we are making, however, will help us deliver better results for our business and, most importantly, continue delivering on our mission of patient health.”

The company said employees will have the option to volunteer to leave and be counted among the 1,150, and all decisions will be finalized by early February 2012.

AstraZeneca said in January 2010 that is was restructuring and reducing its workforce. The company estimates that it will take a charge of between $50 million and $100 million in restructuring costs in the fourth quarter of 2011. The company says restructuring costs are excluded from the company’s core financial measures, so this announcement has no impact on guidance for core earnings per share for 2011.

David Sell
About this blog
David Sell blogs about the region's pharmaceutical industry. Follow him on Facebook.

For Inquirer.com. Portions of this blog may also be found in the Inquirer's Sunday Health Section.

Reach David at dsell@phillynews.com.

David Sell
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