The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations 21.2 - Manufacture of pharmaceutical preparations
1,100 - 1,200 jobs Number of planned job losses
Announcement Date
2 February 2012
Employment effect (start)
2 February 2012
Foreseen end date
Description
Anglo-Swedish pharmaceutical manufacturer AstraZeneca plans to cut between 1100 and 1200 jobs in Södertälje, Sweden, as part of a new restructuring plan. The company plans to cut 7300 jobs worldwide in the third restructuring round since 2007 (see factsheet 19808). Affected by the cuts are mainly researchers, but also medical staff, HR professionals and economists.
As one of the reasons for the restructuring the company gives a gloomy forecast for 2012 with revenue continuing to be adversely affected by competition and government price intervention. AstraZeneca now have plans to create a "virtual" research group in neuroscience, consisting of 40-50 researchers outside Sweden.
The timeline for the restructuring has yet to be announced.
Sources
4 February 2012: Dagens Nyheter
2 February 2012: Dagens Industri
2 February 2012: Svenska Dagbladet
Citation
Eurofound (2012), AstraZeneca, Internal restructuring in Sweden, factsheet number 73050, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73050.
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