AstraZeneca (AZN) announced on Feb. 2 that it will lay off 7,300 workers to save $2.1 billion by the end of 2014. The company is cutting back on its workforce in sales and administration as well as research and development, and operations.
According to the company, the new round of layoffs will save the company $1.6 billion each year. "One change already under way is the simplification of the company's global commercial organization structure. The number of sales and marketing regions has been reduced from five to three and smaller countries are being clustered, a move that will optimize resources, increase shared services and reduce the cost base," said AstraZeneca in a statement.
Already, the company has announced tens of thousands of layoffs after announcing its first major restructuring program in 2007.
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