AstraZeneca will cut 2,300 jobs worldwide as it works to rebuild its drug development pipeline.
The cuts were discussed in an Investor Day held by the company, a short time after news that it would cut 1,200 jobs from its north Wilmington site as part of a realignment and cost cutting effort.
Published reports indicated of the cost cutting will take place outside the U.S., although some cutbacks will take place in Delaware.
Unlike the previously announced cuts that could take place over three years, the latest reductions are under way.
While the latest cutbacks dominated the news coverage of the event, the company worked to make the case that its product pipeline is more robust than critics suggest. The company also ruled out diversifying into non-prescription products.
Click here for the corporate release on Investors Day:
via AstraZeneca – AstraZeneca outlines strategy to return to growth and achieve scientific leadership.
