AstraZeneca has today announced restructuring initiatives which will result in the loss of 7,300 jobs over the next two years.
The pharmaceutical company has not confirmed where the jobs will be cut, but according to GMB Union between 250 and 350 jobs will go at Alderley Park, the company's largest site which employs 3000 people.
Allan Black GMB National Officer said "Astra Zeneca told me that between 250 and 350 research and development jobs will be lost at the Alderley Park site and some further backroom jobs will be lost at some of the other locations. GMB and other unions will meet with AstraZeneca to discuss this announcement and the prospects for jobs across all sites in the UK.
"This is very bad news for the UK economy. These cutting edge R&D jobs are both well paid and essential for a thriving UK economy. As a nation we do need to find a viable way to continue to make breakthroughs in bringing to safe use much needed new medicines."
Designed to improve productivity and strengthen the company's commercial, operations and research and development capabilities the restructuring programme is expected to deliver annual savings of $1.6 billion by the end of 2014.
David Brennan, Chief Executive Officer, AstraZeneca said: "AstraZeneca remains fully committed to our long-term, focused, innovation-driven biopharmaceutical strategy. Since 2007, when we announced our first major restructuring programme, we have taken decisive steps to improve returns on investment, recognising that this demands concerted, enterprise-wide action. Today's initiatives should be seen in this strategic context as we continue to reshape our business to improve productivity and innovation and with it our long- term ability to compete in a rapidly changing healthcare environment.
"We are acutely aware that these decisions will affect many employees and we will strive to support our people as we implement these changes."
The pharmaceutical company employs 61,000 people globally, 8000 of which are based in the UK.
Between 2007 and 2009 AstraZeneca axed 12,600 jobs, followed by a further 9000 by the end of 2011 and the closure of their Charnwood site, near Loughborough, at the end of last year.
Updated 11pm Thursday 2nd February.
Comments
Here's what readers have had to say so far. Why not add your thoughts below.
I am in touch with their senior management, who have reiterated their commitment to the area, and will continue to work with them to ensure we keep high skilled jobs in Cheshire in the years to come.
Pleased to see you using this site and now that you have put your head above the parapet, I will look forward to hearing your views on other local matters!