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Last Updated: Thursday, 26 July 2007, 11:11 GMT 12:11 UK
AstraZeneca unveils new job cuts
Pills
AstraZeneca specialises in cancer and respiratory treatments
Anglo-Swedish pharmaceutical giant AstraZeneca has said it is now planning to cut 7,600 jobs as it tries to make annual savings of $900m (440m).

The firm had already announced it was to axe 3,000 positions, but has now raised its target.

Staff in Britain, Sweden, Germany, France, the US and Canada will be hit by the cuts, AstraZeneca said.

The firm is under pressure after a series of setbacks with drugs it has been developing.

The job losses will include 700 positions in research and development, 1,800 in European sales and marketing, and 1,800 in business infrastructure, chief executive David Brennan said.

Restructuring will cost the firm $1.6bn, he added.

In February, it was revealed that 700 jobs would go over the next three years at the company's plant in Macclesfield, Cheshire, which employs 2,500 workers.


SEE ALSO
Drug flop hits AstraZeneca shares
19 Mar 07 |  Business
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20 Feb 07 |  Business
AstraZeneca profits up as jobs go
01 Feb 07 |  Business

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