Abbott Laboratories will cut 3,000 jobs, equivalent to 3% of its workforce, following its recent acquisition of Solvay‘s pharmaceutical business.
The cuts are set to take place over the next two years and will include research and development, commercial and manufacturing positions, mostly from Solvay.
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The company will also close the former US headquarters of Solvay’s pharmaceuticals unit in Georgia by the end of next year, Reuters reported.
Around 500 people at the firms’ Netherlands-based office will also be laid off, as will 300 in Hanover, Germany.
Abbott is set to pay $310 million in the second half of this year to cover charges related to the integration of Solvay, and up to $910m in restructuring costs over the next two years.
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