©Reuters. FILE PHOTO: The logo of Swiss pharmaceutical manufacturer Roche is seen at its headquarters in Basel, Switzerland, January 30, 2020. REUTERS/Arnd Wiegmann/File Photo
ZURICH (Reuters) -Roche is cutting 345 jobs, Swiss news site Muula reported, as the pharmaceutical company responds to a drop in reported profits for 2023 and a more cautious outlook for the year ahead.
The jobs will go into the product development area and will be about 6% of the area’s workforce, Muula said.
Of the 5,800 jobs worldwide developing pharmaceutical products or providing IT support for product development at Roche, around 1,800 are located in Switzerland, where around 100 jobs are expected to fall victim to cost cuts, adds the site.
Roche told Reuters the number of jobs affected would be fewer than 345 people, although the company could not provide a precise figure.
“The success and sustainable growth of our company depends on our ability to recognize innovation proactively and timely, adapt to change and use our resources wisely,” he said.
“We expect Roche’s total workforce to remain stable in 2024.”
Last week, the Basel-based drug and diagnostics maker reported 7% lower sales and a 9% drop in net profit over the course of 2023, after facing a drop in demand for its anti-inflammatory products. COVID-19 and a decline in sales of three established cancer drugs. .
Roche employs about 101,000 people worldwide, including 14,200 in Switzerland, according to the company website.