Ailing AstraZeneca to cut one in 10 jobs

[riky]

Ailing AstraZeneca to cut one in 10 jobs

<p><a href="http://news.yahoo.com/ailing-astrazeneca-cut-one-10-jobs-134133596--finance.html"><img src="http://l1.yimg.com/bt/api/res/1.2/9OpWe.a_BvBxHWNpRwhMCA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-03-21T155948Z_1_CBRE92K18FR00_RTROPTP_2_ASTRAZENECA-STRATEGY.JPG" width="130" height="86" alt="CEO of AstraZeneca, Pascal Soriot, poses for a photograph in this undated picture provided by AstraZeneca in London" align="left" title="CEO of AstraZeneca, Pascal Soriot, poses for a photograph in this undated picture provided by AstraZeneca in London" border="0" /></a>By Ben Hirschler LONDON (Reuters) - AstraZeneca's new chief executive announced another 2,300 job cuts in sales and administration on Thursday as he set out his stall for turning round the struggling drugmaker and returning it to growth. The latest cutbacks mean the group will shed around a tenth of its workforce, or 5,050 jobs, by 2016 as expiring drug patents shrink sales and it faces generic competition on several top-selling medicines. Pascal Soriot said he had no quick fix for the company and ruled out the idea of diversifying away from prescription drugs, as several rivals have done. ...</p><br clear="all"/>

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