It has been announced that the Swiss pharmaceutical company Roche, plans to cut 6 per cent of their global workforce over the next 2 years. The pharmaceutical job cuts come in an effort by the pharma company to make annual costs savings totalling 2.4 billion Swiss Francs.
Speaking of the cost cutting initiative, CEO Severin Schwan stated it was designed to “to reinforce Roche’s long-term innovation capability in the face of increased price pressures and a more challenging market environment.”
The majority of the job cuts will hit the company’s pharmaceutical division and will ultimately lead to restructuring costs of approximately 2.7 billion. In addition, the sales and marketing workforce will be slashed by a total of 2650 positions, whilst several manufacturing sites in the US and Germany will be reorganised.
The development of preclinical research programmes will also be discontinued including that of cancer. However, the company will remain in its current therapeutic areas.
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