July 26, 2007 -- The Anglo-Swedish pharmaceutical company AstraZeneca (AZN) will cut its workforce by 10% in an attempt to cut costs. The company will eliminate 7,600 jobs, an increase from the 3,000 job cuts it announced in February. While AstraZeneca is cutting back on its expenditures elsewhere in the world, it is spending money to expand its presence in China and build revenues from the country. Also, it seems to be transferring some of its business to China in an attempt to keep a lid on costs. More details...
