AstraZeneca to cut 1150 sales jobs in US

AstraZeneca announced Wednesday that it will cut approximately 1150 sales leadership and representative jobs in the US as part of an ongoing restructuring programme. “These are difficult decisions that impact valued employees. The changes we are making, however, will help us deliver better results for our business,” commented Rich Fante, President of AstraZeneca US.

The cuts, which AstraZeneca noted were not included in previously announced efficiencies to the US business, account for roughly 24 percent of the drugmaker’s sales force in the country. AstraZeneca noted that the impact of the changes will vary geographically and by selling teams, but employees will have the “option to self-identify to potentially leave the company.” All decisions will be finalised by early February 2012.

AstraZeneca indicated that the lay-offs will result in a “discreet restructuring cost” estimated at between $50 million to $100 million, which will be recorded in the fourth quarter of this year.