Connect with us

Hi, what are you looking for?

Stock

Roche to cut 300-400 product development jobs – Blick

Stock Markets43 minutes ago (Jul 01, 2021 06:27AM ET)

(C) Reuters. FILE PHOTO: A sign at a diagnostics site for Swiss pharmaceutical giant Roche is seen, in Burgess Hill, Britain, October 7, 2020. REUTERS/Peter Nicholls

ZURICH (Reuters) – Roche plans to cut 300-400 jobs this year at product development (PD) sites, company executives including Chief Medical Officer Levi Garraway said during a recorded video call with employees obtained by Swiss newspaper Blick.

“We’ve made the difficult decision to reduce our workforce in PD by around 5-7% by the end of the year,” Garraway said on the call. “And that equates to somewhere between 300 to 400 roles that will be impacted globally.”

Roche employs 101,000 people worldwide.

The Basel-based company confirmed the video call took place and said in a statement it would be working with all employees to help soften the blow of losing their jobs.

It has product development sites where employees’ duties include clinical studies for prospective drugs that have emerged from research programmes in Switzerland, the United States, Britain, China and Canada, among other locations.

Jobs affected include business support positions, including project management, project delivery, learning and development, business management, coaching and administrative support, Roche managers said in the video call.

People due to lose their jobs will be told from August to October, with British employees first to be informed, followed by employees in other locations. Their work would cease in early November, a human resources manager said in the video.

“This is the hardest thing I’ve had to do since I’ve been in Roche,” Felix Arellano, head of global drug safety, said on the recording obtained by the newspaper. “Obviously, we’re taking this very seriously.”

Roche posted net profit of 15.1 billion Swiss francs ($16.3 billion) in 2020 as diagnostics for the pandemic bolstered falling drug sales.

The company’s statement said that evolving its business to adapt to changes required “the re-prioritization of work” that “may result in the unfortunate elimination of positions.”

($1 = 0.9254 Swiss francs)

Roche to cut 300-400 product development jobs – Blick

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Stock

Stock Markets25 minutes ago (Jul 16, 2021 05:46PM ET) (C) Reuters. FILE PHOTO: Johnson & Johnson’s Neutrogena Cool Dry Sport sunscreen, which is part...

Tech

Builders, creators and developers, this one’s for you! TechCrunch has always been about discovering fresh solutions and shining the light on exciting, new products...

Disclaimer: Wisegazette.com it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Wise Gazette. All Rights Reserved