• Sweden edition
 
Hundreds of great job opportunities for foreign professionals at Sweden's top employers - in cooperation with Monster, Experteer, Stepstone, and CareerBuilder.
What
Where
687
jobs available
Find English-speaking professionals with The Local.
Advertise a vacancy
AstraZeneca job cuts hit Södertälje hard

AstraZeneca job cuts hit Södertälje hard

Published: 02 Feb 2012 10:40 CET

“It might be redundancies, it might be early retirements or jobs elsewhere in the company,” AstraZeneca spokesperson Ann-Leena Mikiver told the TT news agency.

On Thursday, the company said it would axe 7,300 jobs worldwide by 2014 in a new cost-cutting drive, despite delivering bumper annual profits.

The company's Södertälje workforce will be reduced by between 1,100 and 1,200 workers.

"Today the company announces the start of a new set of restructuring initiatives to further reduce costs and increase flexibility in all functional areas," the London-listed group said in a results statement.

It added: "The total number of positions expected to be impacted for this phase is estimated to be approximately 7,300."

Part of the restructuring calls for the closure of R&D activities in Södertälje and the creation of a “virtual” neuroscience team of around 40 to 50 scientists based in Boston in the United States and Cambridge in the UK.

However, AstraZeneca added that the new team would work closely with the Karolinska Institute in Stockholm and that Södertälje would remain “an important part of the AstraZeneca network” because it is the company’s largest manufacturing site and home base for business in the Scandinavian markets.

AstraZeneca's latest job cuts are forecast to deliver $1.6 billion in annual benefits by the end of 2014, and are part of an ongoing efficiency drive.

The company cut 12,600 positions between 2007 and 2009 and removed another 9,000 roles by the end of last year.

The group meanwhile revealed that earnings after taxation surged 23 percent to $9.98 billion last year, compared with $8.053 billion in 2010.

Revenues flattened to $8.66 billion, from $8.62 billion.

However, AstraZeneca warned that earnings were expected to fall this year as patents on key drugs expire and governments in Europe and the United States squeeze prices.

TT/AFP/The Local (news@thelocal.se)


Don't miss...X
Left Right

Your comments about this article:

The comments below have not been moderated in advance and are not produced by The Local unless clearly stated. Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.

ADD YOUR COMMENT   (YOU MUST LOG IN OR REGISTER TO MAKE A COMMENT)
Your Swedish Career
Sometimes the key to advancing your Swedish career is latching onto a mentor. A career expert talks us through exactly what a mentor does, how you can get one for yourself, and why you might need one.
The dreaded job application - but with a twist. For this month's JobTalk, we chat with a marketing manager at CareerBuilder about how to write the perfect application for a job in Sweden.
When Matthew Volsky first came to Sweden he didn't think he would stick around. Six years and a pioneering invention later he tells The Local about the medical device which is helping save lives around the world.
Jenna Iwanchuk had never visited Europe, let alone Sweden, before she moved from Canada to Gothenburg two years ago, she tells The Local. Now she runs a local pet shop ably assisted by her dog, Tindra.
US expat Faith George tells The Local about how she mastered the Swedish language, seeing the positives in being made redundant, and how she plans to show Swedes another side of the United States.
What does an eccentric Swedish farmer have in common with an Australian paleontologist? No, it's not a Ross from Friends joke, it's about a petrified fern and a career in scientific research in Sweden.
Swedish Employment News
Sometimes the key to advancing your Swedish career is latching onto a mentor. A career expert talks us through exactly what a mentor does, how you can get one for yourself, and why you might need one.
Swedish national rail operator SJ announced on Thursday that it was planning to slash prices and review its ticketing system in a bid to boost stagnant revenues.
The dreaded job application - but with a twist. For this month's JobTalk, we chat with a marketing manager at CareerBuilder about how to write the perfect application for a job in Sweden.
Despite a shortage of nurses in many parts of Sweden, last year 1,300 Swedish nurses obtained Norwegian nursing licenses - one third of all the nurses who graduated in Sweden during the year.
Sweden last year attracted more talent than it lost, with engineers topping the table of immigrants. In Europe, the biggest influx of professionals was to Germany, but a Middle Eastern country outperformed all surveyed markets.
"We have to hit the brakes and the gas at the same time." Does your Swedish boss confuse you? You're not alone. Swedes have crowned that phrase as the worst workplace cliché of the year.

International Sales - Stockholm based
Marcus Evans is looking for International Sales Executives
FULL JOB AD »

Telephone Sales People
One of the world’s leading business publications is looking for sales superstars with fluent English to join the team in its Stockholm headquarters.
FULL JOB AD »

THG is hiring for the Stockholm office!
THG is looking for International Sports Sales Executives to sell their VIP hospitality facilities at major sports events.
FULL JOB AD »

Capgemini
Stockholm
Careerbuilder
Added 08/20/14

Volvo
Göteborg
Careerbuilder
Added 08/20/14

Capgemini
Stockholm
Careerbuilder
Added 08/20/14

Capgemini
Sundsvall
Careerbuilder
Added 08/20/14

Capgemini
Stockholm
Careerbuilder
Added 08/20/14

Capgemini
Sundsvall
Careerbuilder
Added 08/20/14

Ericsson
Linköping
Careerbuilder
Added 08/20/14

Volvo
Göteborg
Careerbuilder
Added 08/20/14

Ericsson
Stockholm
Careerbuilder
Added 08/20/14

Fabi
Stockholm
Careerbuilder
Added 08/20/14