Cut

Summary Box: AstraZeneca to cut 1,150 US employees

AP News
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Posted: Dec 07, 2011 5:51 PM
Summary Box: AstraZeneca to cut 1,150 US employees

THE CUTS: British drugmaker AstraZeneca PLC will cut roughly 24 percent of its U.S. sales force, or 1,150 employees, including sales representatives and managers.

THE REASON: The company _ which employs about 14,000 people in North America _ is pushing to curb costs as challenges from cheaper generic drugs loom for several key products.

OTHER LAYERS: The layoffs are in addition to 400 cuts in AstraZeneca's U.S. commercial business that it announced in October. They also are in addition to the 10,400 jobs the company plans to cut by 2014 as part of a corporatewide restructuring it announced in 2010.