Jean MartinRoche, 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.
