Published On : 02/09/2024

Roche cutting 345 jobs in product development – media

ZURICH (Reuters) – Roche is cutting 345 jobs, Swiss website Muula reported, as the drugs company responds to lower profit posted for 2023 and a more cautious outlook for the year ahead.

The jobs will go in the product development area, and corresponded to about 6% of the workforce in the area, Muula said.

Of the 5,800 jobs worldwide that develop pharmaceutical products or provide IT support for product development at Roche, around 1,800 are in Switzerland, where around 100 jobs are expected to fall victim to the cost cuts, the website added.

Roche did not immediately respond to a request for comment.

The Basel-based drugs and diagnostic maker last week said that group sales, which include diagnostics, would grow by a mid-single digit percentage, when adjusted for currency swings.

Adjusted operating profit slipped 1% last year while sales were 7% lower.

Roche employs roughly 101,000 people globally, including 14,200 in Switzerland, according to the company’s website.

(Reporting by John Revill, Editing by Rachel More)

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