Abstract
ROCHE HAS BECOME the latest major drug company to launch a restructuring program in response to a worsening pharmaceutical business climate. Over two years, the company will eliminate 4,800 jobs, largely in the U.S. Overall, 6,300 employees, or 6% of its workforce, will be affected. Among the planned reductions are 600 jobs in pharmaceutical RD Kulmbach, Germany; and Madison, Wis. “We decided to react proactively and decisively,” Roche CEO Severin Schwan told investors in a conference call last week. “Our goal was to find the right balance of protecting our innovation capabilities on the one hand and increasing our productivity in a focused way on the other hand.” The program is expected to save up to $2.4 billion a year. Product development activities involving another 800 positions, mostly in the U.S., will be discontinued or transferred to ...
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