AstraZeneca to cut 2,300 more jobs worldwide

Struggling drug company AstraZeneca says it will cut 2,300 more jobs worldwide on top of the layoffs at its Fairfax headquarters that were announced Monday.

These new cuts fall mostly outside the U.S. and part of a worldwide restructuring plan.

A company statement indicates the elimination of these positions will result in a one-time $2.3 billion restructuring charge.

The company anticipates the cuts will produce benefits of about $800 million per year by 2016.

New CEO Pacal Soriot said the company's goal is to be a global firm with a "focused portfolio in core therapy areas."

The company's finances have been hurt as generic competition has damaged sales.

AstraZeneca announced Monday it's cutting 1,200 jobs in Wilmington, eliminating hundreds entirely and relocating the rest outside Delaware.






Copyright © Jul 31, 2014, WDEL/Delmarva Broadcasting Company. All Rights Reserved.
Advanced permission from Delmarva Broadcasting Company required for publication or rebroadcast.