Roche to Slash Jobs Amid Slow Drug Sales
Roche Holding said it plans to eliminate about 3,000 jobs over the next two to three years, including about 1,100 in the U.S., in an effort to boost profit in its pharmaceuticals unit. The job cuts represent 4.6% of the Swiss company’s total work force and 7.3% of the employees in its drug division. Most of the job cuts will come in manufacturing and no cutbacks in research spending are planned, Roche said.
About 900 positions that report to Roche’s U.S. headquarters in Nutley, N.J., will be cut, including sales representatives based throughout the U.S. Clinical development operations in Palo Alto, which employ 200 people, will be shut down.
Roche, inventor of Valium, has been struggling this year with stagnant drug sales and a lack of new medicines in development.
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