AstraZeneca announce another 8000 job losses

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AstraZeneca announced their 2009 annual results today which showed a 7% increase in revenue and a 23% increase in core operating profit.

The increase in profit was attributed to both an increase in revenue and better control of costs. David Brennan, Chief Executive, said “ our restructuring programmes are really making a difference in leveraging the profit line.”

However, this was accompanied by an announcement that the restructuring programme has been expanded and thousands more jobs are to go across their global operations.

A year ago it was announced that 15,000 positions would be eliminated from AstraZeneca, 12,600 jobs have been lost to date and today 10,000 more job losses were announced over the next 4 years.

David Brennan said “These are very difficult announcements that we’re making when we talk about restructuring and people losing their positions, it’s something that we as a management team take very seriously.”

The restructuring programme for 2010 to 2014 will cost the pharmaceutical giant $2bn but should return an annual saving of $1.9bn when it’s fully implemented over the next few years.

Some of these 10,000 job losses are carried over from the 15,000 announced last year but 8000 are actually new announcements which will come from the global supply chain, sales, administration, research and development.

AstraZeneca employs over 60,000 people worldwide with Alderley Park being
a key site in the AstraZeneca global network. 4,500 people are based there, dedicated to research & development, operations, international sales & marketing, product strategy & licensing.

Alderley Park is part of AstraZeneca’s significant presence in the north west. Together with several satellite offices in the surrounding area, plus a major site at Macclesfield, they employ around 7,500 people in Cheshire.

AstraZeneca said it was too early to announce where the latest cuts would be made.

 

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