Roche (RHHBY) to Cut 1,000 Research Jobs in U.S.
6/26/2012 11:19:06 AM
Roche said it plans to cut 1,000 jobs by closing a Nutley, NJ-based plant, an attempt to clamp down on its drug development costs. "The overall number of programs in clinical development has grown substantially," Roche Chief Executive Severin Schwan said in a statement on Tuesday. "The planned consolidation of our research and early development organization and the refocusing of research and development activities in Switzerland and Germany will free up resources that we can invest in these promising clinical programs while also increasing our overall efficiency," he said.