AstraZeneca to axe 1,400 jobs by 2013

Global pharmaceutical giant AstraZeneca today said it will slash about 1,400 jobs in the coming years across Europe, as part of the restructuring plan of its manufacturing and supply chain operations.

The UK-based pharma major would exit from its three units in Europe -- Porrino in Spain, Destelbergen in Belgium and Umea in Sweden -- under efficiency improvement programme, the company said in a statement.

Further, there would be roles affected at its facilities in Macclesfield in the UK and Sodertalje in Sweden, it added.

"These moves will result in a net reduction across the business of 1,400 positions by 2013," AstraZeneca said, adding that these job cuts are subject to local consultation.

"I realise these changes are difficult for our affected employees, with whom we will be consulting in the coming months. We believe these changes are necessary for the long-term strength of the business," AstraZeneca Executive Vice President Operations David Smith said.

Anglo-Swedish pharma company has announced proposed changes to its global manufacturing and supply chain operations as part of its ongoing programme to improve efficiency across the business.

However, the company's outlook to investors on restructuring costs remains unchanged for 2008.

"These moves are a continuation of AstraZeneca's programme to improve the organisations productivity and efficiency," David added.

AstraZeneca has a presence in India through its Indian arm AstraZeneca Pharma India.

Shares of AstraZeneca fell 0.84 per cent and was trading at 2,482 pence on the London Stock Exchange. Whereas, AstraZeneca Pharma India's shares settled at Rs 465.85, down 2.09 per cent on the Bombay Stock Exchange.