The 450 planned redundancies at AstraZeneca's Södertälje, Sweden, plant will not be enough to produce the required cost cuts, it was revealed on Saturday.
As a result, more people will lose their jobs in the town, the company's head of information, Staffan Ternby, has confirmed. The redundancies have been in the offing since AstraZeneca announced its 2006 results on February 1st.
Despite strong figures for the year, the company said that 3,000 people would lose their jobs over the next three years.
As a result, more people will lose their jobs in the town, the company's head of information, Staffan Ternby, has confirmed. The redundancies have been in the offing since AstraZeneca announced its 2006 results on February 1st.
Despite strong figures for the year, the company said that 3,000 people would lose their jobs over the next three years.
Now it seems that that total will rise significantly.
"It's what everybody has been expecting - that there would be more," said Ternby, who promised more clarity in the coming week.
It has already been decided that 700 jobs will be lost at the company's Macclesfield plant in the UK. Where the other savings will be made is unclear, but what the company calls "the world's biggest pill factory" - the Södertälje operation - will not be spared.
Finance web site Dina Pengar reported on Saturday that there could be as many as 850 further redundancies in Södertälje.
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"It's what everybody has been expecting - that there would be more," said Ternby, who promised more clarity in the coming week.
It has already been decided that 700 jobs will be lost at the company's Macclesfield plant in the UK. Where the other savings will be made is unclear, but what the company calls "the world's biggest pill factory" - the Södertälje operation - will not be spared.
Finance web site Dina Pengar reported on Saturday that there could be as many as 850 further redundancies in Södertälje.
More
1 comment:
It seems the big pharma companies have decided that they may as well start behaving like banks ( In Canada at least) since they have become as disliked as banks are. What many banks do, as one of big Canadian four did, after the best year ever (2.7 billion in profit)and with CEO leaving with $8.5 million in package.His last move was a decision to fire 3000 emloyees in order to improve efficiency and profitability of the bank. This around the Christmas season for added effect.
So the big pharma worldwide, after a long period of expanding orgy decides to reverse the process not because they are not doing well but to improve already amazing efficiency.Prifit and shareholders value rule, even in Sweden. We are really in trouble.
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