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AstraZeneca cuts another 550 jobs

On February 6 AstraZeneca released its full quarter and full year results 2013 where it stood clear that the company expects another 550 layoffs due to savings.

Of the 550 jobs, 168 of them will be cut off as the R&D unit in Avishkar (Bangalore, India) is closed down. The remaining 400 posts will be cut from the company’s global IT unit. Like the 5,050 cuts previously announced, the additional 550 will come over the next few years and will be wrapped up by 2016, the company said.