15 February 2007
Two of the world's biggest pharmaceutical companies are to axe thousands of jobs to cut costs and improve efficiency.
US manufacturer Pfizer is to cut 10,000 jobs, 10 per cent of its workforce, as part of a $1.5 billion to $2 billion (£762 million - £1 billion) cost-saving programme.
UK-based AstraZeneca is also proposing cuts of 3,000 jobs to improve efficiency across its global supply chain.
Pfizer's cost-saving programme will run until the end of 2008. It said the plan would increase the focus on outsourcing and procurement savings. Yet it could not confirm any further details nor state how much procurement would be expected to save, either in the UK or the US.
AstraZeneca also could not confirm the level of procurement's involvement in the jobs being lost in its supply chain. Yet it did state that the move was connected to the supply chain review being carried out by the company (News, 4 January).
A spokesman said it was examining the supply chain and assessing what would be needed in the future.