judyd
Active Member
They are the suppliers of many drugs, two notables are Tamiflu and Valium. It would be a welcome idea if this was done in an effort to keep their prices down, but no, they want to increase the profits to keep the stockholders happy. As a result though, again, thousands in the US will be out of work. I wonder what their "socially responsible solutions" will be?
Drug maker Roche to cut 4,800 jobs, mostly in US - wtop.com
Read the entire article:GENEVA (AP) - Swiss pharmaceutical company Roche will cut 4,800 jobs over two years, mostly in the U.S., to help save 2.4 billion Swiss francs ($2.4 billion) by 2012, the company said Wednesday.
The cuts amount to six percent of its 82,000-strong global work force and will mainly affect positions in sales, marketing and manufacturing, Basel-based Roche Holding AG said in a statement.
A further 1,500 jobs will be transferred to other locations within the company or outsourced, meaning that a total of 6,300 positions will be affected.
Roche reported a 7 percent year-on-year drop in third-quarter sales last month to 11.5 billion francs.
U.S. locations will be hit hardest by Roche's "Operational Excellence Program," with some 3,550 jobs cut or moved elsewhere. Sites in Florence, South Carolina; Boulder, Colorado; Nutley, New Jersey; Madison, Wisconsin; and Vacaville, South San Francisco and Oceanside in California will be affected, the company said.
Roche will also cut or transfer 770 jobs in Switzerland, 1,300 in other European countries and 680 in the rest of the world.
"These measures are necessary to ensure sustained success of the company," said Roche's Chief Executive, Severin Schwan. "We will make every effort to find socially responsible solutions for the employees affected."
Drug maker Roche to cut 4,800 jobs, mostly in US - wtop.com