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AstraZeneca Cuts Worldwide Workforce While Investing in China

publication date: Jul 26, 2007
10% Reduction in ex-China Headcount -- The Anglo-Swedish pharmaceutical company AstraZeneca (AZN) will cut its workforce by 10% in an attempt to cut costs. The company will eliminate 7,600 jobs, an increase from the 3,000 job cuts it announced in February. According to AstraZeneca, the reductions will save the company $900 million per year by 2010. CEO David Brennan said the job cuts would most directly affect the company's European sales and marketing staff. More details...


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