Roche plans to slash 345 jobs, accounting for around 6% of its product development staff.
Roche plans to slash 345 jobs, accounting for around 6% of its product development staff.

Roche to Cut 345 Jobs Amid Lower Profits and Cautious Outlook

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Roche, a Swiss pharmaceutical company, is set to cut 345 jobs, representing about 6% of the workforce in the product development area, according to Swiss website Muula. 

The reduction comes in response to lower profits reported for 2023 and a more cautious outlook for the year ahead.

Impact on Global and Swiss Workforce:

Of the 5,800 jobs worldwide involved in pharmaceutical product development or IT support for product development at Roche, approximately 1,800 are in Switzerland. It is estimated that around 100 jobs in Switzerland will be affected by the cost-cutting measures.

Roche has not yet issued a formal comment regarding the reported job cuts.

Financial Performance:

Last week, Roche announced that group sales, including diagnostics, were expected to grow by a mid-single-digit percentage after adjusting for currency fluctuations. 

However, adjusted operating profit experienced a 1% decrease last year, while sales declined by 7%.

Roche, headquartered in Basel, specializes in drugs and diagnostics. The company has a global workforce of approximately 101,000 employees, with around 14,200 based in Switzerland, per Roche’s website.

Jean Martin

Jean Martin, a seasoned Correspondent Author at USA Guardian Magazine, specializes in transforming complex subjects into engaging narratives. With a keen eye for detail and a commitment to truth, her work spans politics, culture, and technology, enriching the magazine's diverse content. Jean's reporting not only informs but also inspires readers, showcasing her belief in journalism's power to drive change.

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