AstraZeneca‘s headquarters in London, UK.” height=”206″ src=”https://www.pharmaceutical-technology.com/wp-content/uploads/static-progressive/AstraZeneca-Headquarters.jpg” style=”padding: 10px” width=”300″ />
AstraZeneca will cut its US-based sales team by 1,150 as part of efforts to streamline its operations in the country.
The cuts come as part of a broader restructuring programme that was announced in January 2010, which will see 8,000 jobs lost.
The latest round of job cuts, approximately 24% of the company’s US sales staff, will be finalised by early February 2012.
AstraZeneca US president Rich Fante said: "The changes we are making will help us deliver better results for our business and, most importantly, continue delivering on our mission of patient health."
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As part of the restructuring, a discrete restructuring cost estimated to be between $50-$100m will be charged in the fourth quarter 2011, although as the costs are excluded from the company’s core financial measures will have no impact on guidance for core earnings per share.
Caption: AstraZeneca’s headquarters in London, UK.
