AstraZeneca Is Cutting 1,150 Sales Jobs
December 8th, 2011 // 3:12 pm @ jmpickett
Just weeks after disclosing plans to eliminate 400 jobs in its commercial business and US headquarters, AstraZeneca told employees this morning that anotehr 1,150 jobs will be choppedfrom the US sales force. The move will shrink the US sales force by 24 percent, according to a statement released by the drugmaker.
In describing the move, AstraZeneca US president Rich Fante says the cuts are part of an ongoing ’second phase’ of restructuring that began in January 2010. At the time, the drugmaker indicated plans to reduce its overall headcount by 10,400 jobs (see slide 103 of this slide show). These latest cuts are on top of that forecast. The costs associated with the downsizing are expected to result in charges of up to $100 million (read here). The drugmaker currently employes about 61,000 people worldwise, including 14,000 in North America. Specific numbers for the US were not available
The move comes as AstraZeneca braces itself for looming patent expirations on some of its biggest sellers, notably the Crestor cholesterol pill, the Nexium acid reflux med and the Seroquel antipsychotic. The layoffs will bring the industry tally closer to the 20,000 mark for the year, based on recent data compiled by the Challenger, Gray & Christmas outplacement consulting firm.
