Global pharmaceutical giant Roche (ROG.S) is set to cut 345 jobs, in response to lower profits recorded in 2023 and a cautious outlook for the upcoming year.
The reduction in workforce primarily targets the product development sector, constituting approximately 6% of the workforce in that area.
The cut
- 5,800 positions worldwide are responsible for developing pharmaceutical products or providing IT support for product development at Roche.
- The cost-cutting measures are expected to affect about 345 jobs globally.
- Roche clarified that the exact number of jobs impacted could be less than 345, although a precise figure was not provided.
- The company emphasized the importance of proactively recognizing innovation, adapting to change, and utilizing resources wisely for its success and sustainable growth.
While acknowledging the workforce reduction, Roche assured that the total workforce is expected to remain stable in 2024.
The Basel-based pharmaceutical and diagnostic maker recently reported a 7% decrease in sales and a 9% drop in net income for 2023.
These challenges were attributed to a decline in demand for COVID-19 products and reduced sales of three established cancer drugs.
What you should know
- According to its website, Roche has a global workforce of approximately 101,000 people including a branch in Nigeria.
- The company has stated that it is navigating these changes to maintain its position in the pharmaceutical industry while remaining focused on measures to address current challenges and aiming for stability and growth in the coming year.
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