Takeda to cut 2,800 jobs in Europe and US

Japan-based Takeda Pharmaceutical has said 2,800 jobs will be cut in Europe and the US by March, 2016.

A number of facilities and functions in the regions will be consolidated too as the company looks to reorganise itself following the purchase of Switzerland-based Nycomed in October, 2011.

This includes the potential of a merger or liquidation of European subsidiaries.

Europe will be affected most by the cuts, with 2,100 jobs to go, while 700 positions will be lost in the US. Jobs will go across R&D, commercial, operations and administration.

Takeda said it plans to make savings of 200bn yen in what the company described as measures to 'secure a sustainable future', with intentions to make greater use of Nycomed's existing sales platforms in Europe and emerging countries.

Yasuchika Hasegawa, president & CEO of the company, said: "While our combined operations in more than 70 countries are more complementary than overlapping, there are a number of areas where we will need to make changes to ensure efficient and flexible operations moving forward."

The plan is expected to cost Takeda a total 70bn yen up to March 2016, with the company's income for the fiscal year ending March 2012 to take a hit of 35bn yen.

A revised financial forecast will be released on February 1 alongside the company's financial results for 2011.

Takeda also said its product portfolio would shift in focus to newer products, rather than mature brands. These products will cover areas including metabolic diseases, gastroenterology, oncology, cardiovascular health and CNS diseases.

The company recently announced plans to develop its vaccines business, with the upcoming launch this year of a global vaccines division.