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Roche cuts 6 per cent of its workforce

Swiss drug manufacturer, Roche, has announced that it will cut 4,800 jobs, or 6 per cent of its workforce, during 2011 and 2012

Roche has announced that it will cut 4,800 jobs, or 6 per cent of its workforce, during 2011 and 2012.

The company stated that the reductions have come as a result of "increased price pressures and a more challenging market environment".

The cuts will mainly affect positions in sales, marketing and manufacturing and be predominantly in the US, although Switzerland will also be affected.

It is estimated that this move by Roche will save the company CHF2.4bn (US$2.4bn), despite CHF2.7bn restructuring costs.

Analysts have said they were not surprised by this outcome. Last month Roche announced that sales for the July to September period had fallen by 7 per cent, and pipeline drugs for breast cancer and diabetes are experiencing delays.

17th November 2010


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