Reuters - Video

Edition: U.S. | U.K. | IN | CN | JP

Business

Daily Digit: 1 in 10 jobs to go at AstraZeneca

Thursday, March 21, 2013 - 01:01

March 21 - AstraZeneca's new chief executive announces another 2,300 job cuts as he sets out his stall for turning round the struggling drugmaker and returning it to growth. Hayley Platt reports.

▲ Hide Transcript

View Transcript

2,300 is today's daily digit in Europe - the number of jobs being cut at AstraZeneca. It's all part of the new chief executive's plan to return the struggling drugmaker to growth. Pascal Soriot wants to focus research on three main areas - including cancer, cardiovascular disorders and respiratory diseases. He also hoping to find new business partners to replenish a sparse new drug pipeline. But it looks like being a long haul. AstraZeneca wasn't giving any near-term forecasts just a promise of revenue in 2018 well above an expected $21.5 bln. It currently employs almost 52,000 people worldwide. It axed 10,000 under previous management's and the new losses will be in sales and admin. They follow 1,600 jobs cuts in R&D and consolidation at three main centres in Britain, Sweden and the US.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Daily Digit: 1 in 10 jobs to go at AstraZeneca

Thursday, March 21, 2013 - 01:01