Tuesday, November 15, 2011

No more job cuts, says Roche

Swiss pharma giant Roche is not planning further job cuts, according to its Chairman Franz Humer.

In November 2010, Roche announced it was cutting 4,800 jobs with the aim of saving 2.4bn Swiss francs per year ($2.6bn) from 2012 onward.

“We don't need new programmes,” Humer told the Sonntag newspaper, adding: “but we will always pursue efficiency improvements”.

The company’s Swiss rival Novartis plans to cut 2,000 jobs in Switzerland and the US in the coming year.

Both companies are facing cost pressures in the export market due to the strength of the Swiss franc, as well as the price pressures affecting the global pharma industry.

Roche was less affected by the strength of the franc than other Swiss companies, Humer said. The company’s priority was to improve its productivity and efficiency at the existing staff levels.

Humer, a former Chief Executive of Roche, said that he would stand for re-election as Chairman in March 2012.

Posted via email from Jack's posterous

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